National Insurance Co. Ltd. v. Mariayam Hemram and 5 Ors.
Case brief
What is this about?
In a National Lok Adalat session, the Gauhati High Court recorded a settlement between the appellant insurance company and the respondentHariayam Hemram and others. The parties agreed to a total settlement of Rs. 7,00,000 against a Tribunal award of Rs. 7,99,000, with the insurer to deposit funds within 45 days.
What did the court decide?
The appellant ordered to deposit Rs. 7,00,000 within 45 days; failing which interest at 9% p.a. shall apply.