Insurance Transfer Certificate, Report of Transfer of Ownership and Notice for transfer of ownership respectively. According to the learned Senior counsel, these documents would clinchingly prove that the vehicle in question stood transferred in favour of Mr. S.P. Annamalai even on 22.10.2005. Further, Exs. R7, R8 and R9 corroborates the statement contained in Ex.P1, first information report, Ex.P21, legal notice dated 21.04.2006 and Ex.R1, reply notice dated 24.05.2006. Therefore, it is contended by the learned Senior counsel that the second respondent – Vel Tech College of Engineering, was the owner of the vehicle in question as on the date of accident and the Tribunal erred in conferring right to recovery with the Insurance Company to recover the compensation amount from the first respondent only on the ground that on the date of accident, the vehicle was operated without a valid permit. In any event, the fact that the vehicle was operated on the date of accident without a valid permit or in breach of the conditions of permit is not a ground on which the Insurance company can disown their liability to pay compensation to the claimants. In this context, the learned Senior counsel appearing for the first respondent – Sri Venkateswara College of Engineering invited the attention of this Court to Section 149 of The Motor Vehicles Act, which reads as follows;“149. Duty of insurers to satisfy judgments and awards against persons insured in respect of third party risks:- (1) If, after a certificate of insurance has been issued under subsection (3) of Section 147 in favour of the person by whom a policy has been effected, judgment or award in respect of any such liability as is required to be covered by a policy under clause (b) of sub-section (1) of Section 147 (being a liability covered by the terms of the policy) or under the provisions of Section 163-A is obtained against any person issued by the policy, then, notwithstanding that the insurer may be entitled to avoid or cancel or may have avoided or cancelled the policy, the insurer shall, subject to the provisions of this Section, pay to the person entitled to the benefit of the decree any sum not exceeding the sum assured payable thereunder, as if he were the judgment debtor, in respect of the liability, together with any amount payable in respect of costs and any sum payable in respect of interest on that sum by virtue of any enactment relating to interest on judgment
