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Judgment
The parties have settled the matter amicably. Accordingly, they have filed a joint -memo. The joint memo is signed by the claimants as well aS the owner of the vehicle and their respective Advocates, The owner of the vehicle Sri S G Krishnaswamy, has agreed to pay a sum of Rs. 1,30,000/- in full and final settlement of the claims within a period of three months, He has agreed to deposit the amount before the Tribunal. The Joint memo further reads that if the amount is not deposited within three months, the same shall carry interest at 18% p.a. on Rs. 1,30,000/- to be calculated from today and the Learned Counsel for the parties submit that the liability saddled on the appellant/National Insurance Company in MFA No. 10485/2006 has to be set aside.
The appellants/ claimants and owner of the vehicle are present before Court They have been identified by the respective Advocates. The joint memo is placed on record. In-view of the joint memo, the judgment and award passed by the MACT in MVC No.2735/2004 dated 3.3.2006 is hereby modified. The liability of the appellant/Insurance Company is exonerated.
In the result, MFA No. 10485/2006 is disposed of.
The amount, if any, deposited in MFA No.10485/2006 Is ordered to be refunded to the appellant/Insurance Company.
MFA No.10629/2006 is also disposed of in terms of the joint memo. The compensation awarded by the Tribunal is reduced from Rs. 2,36,000/- to Rs. 1,30,000/- which shall be paid within three months from today, failing which, it shall carry interest at 18% p.a. The same shall be paid by respondent No.2 in MFA No.10629/2006 and respondent No.3 in MFA No.10485/2006, who was respondent No.2 in MVC No.2735/2004.
The Registry is directed to draw modified decree in view of the joint memo.