The New India Assurance Company Ltd., v. Natarajan
Case brief
What is this about?
Lok Adalat settlement reduced insurance claim from Rs.23.61 lakhs to Rs.19.11 lakhs plus interest; award adjusted accordingly with deposit and interest withdrawal instructions.
What did the court decide?
Award adjusted to Rs.19,11,800/- plus 7.5% interest. Full amount deposited by appellant; respondents entitled to withdrawal after adjustment.