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Judgment
Rekha Borana, J
The present appeal has been preferred by the owner of the vehicle against the award dated 09.02.2019 whereby the Insurance Company has been exonerated from the liability but has been directed to pay the amount to the claimants and recover from the owner and driver. In pursuance to the same, the Insurance Company has satisfied the award and preferred an execution petition against the owner.
Learned counsel for the appellant-owner submits that the owner is ready to pay the award amount i.e. Rs.14,23,741/- in four equal installments to the Insurance Company.
Learned counsel for the Insurance Company agrees to the said proposal.
In view of the submissions made, the execution proceedings pending in Execution Petition No.37/2020 as preferred by the Insurance Company shall remain stayed subject to the appellant paying the award amount in four installments to the Insurance Company. The first installment be paid within a period of one month from now vide an account payee cheque in the account of respondent No.4-Insurance Company. The further three installments be deposited after every two months vide the same mode.
The stay petition is disposed of.