The National Lok Adalat disposed of an appeal regarding a dispute over enhanced compensation of Rs. 6,00,000 in an insurance claim, ordering the amount to be credited within four weeks.
Settlement of Rs.6,00,000 to be credited within four weeks; liability for 9% annual interest on delayed payment.
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NATIONAL LOK ADALAT
IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH
512 FAO-5544-2018 (O&M) MANORM A DEVI & ANR. ….APPELLANT S V/S SATISH & O RS.
….APPELLANT S
….RESPONDENT S
Present: Mr. Vikas Lochab, Advocate fo r the appellants. Mr. Lovepreet Singh, Advocate for Mr. Sanjeev Kodan, Advocate f o r TATA AIG GIC. *** * ***
Both the parties have agreed for full and final settlement wit h the enhan c ed compensation at Rs.6,00,000 / - (Rupees Six Lac Only) over an d above the a mount awarded by the learned M ACT, Faridabad
The enhanced amount is to b e credited to the account of th e claimants within a period of four weeks f rom today. The claimants hav e undertake n to provide the bank details e n abling the respondent-Insuranc e Company t o credit the amount through RT G S within a week. In case the appellants/claima n ts fail to provide the bank detail s for the p u rpose of transfer of amount s o enhanced here-in-above, th e insurance company will be at liberty to iss u e demand draft against the sai d amount.
It is further made clear that in case the insurance company fail s to deposit the amount of enhanced co m pensation within the stipulate d period of f o ur weeks, it shall carry interest @ 9% per annum from the date i t became d u e till the date of its realization.
The present appeal is disposed of in the aforesaid terms. A copy of this order be supplie d to the respective counsel for th e parties an d file be returned to the High Cou r t.
(SANDEEP MOUDGIL) PRESIDENT
(ASHOK KUMAR AGGARWAL) MEMBER
14.12.2024
NainaRajput
NAINA KATHIAT 2024.12.20 12:03 I attest to the accuracy and integrity of this document
MANORM A DEVI & ANR.
SATISH & ORS.
SANDEEP MOUDGIL
ASHOK KUMAR AGGARWAL
As recorded by the court registry
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