National Insurance Co.,Ltd., v. Sri Rangadhamaiah
Case brief
What is this about?
2nd Appeals to conciliation where the Insurance Company and claimants reached a settlement. A lump-sum of Rs.15,00,000/- was agreed instead of the Tribunal award, modifying the original judgment via a joint memo during Lok Adalat proceedings.
What did the court decide?
Modified Tribunal Award; Granted lump-sum of Rs.15,00,000/- in full and final settlement of the claim.