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Judgment
Heard Mr. Ranabir Ganguly, Assistant Manager, Oriental Insurance Company Ltd. Also heard Mr. R. Goswami, learned counsel for the respondents.
Due to Covid-19 protocol in force, the matter has been taken up by remote video conferencing mode.
After negotiated settlement, the parties have agreed for a total settlement amount of Rs.10,80,000/- (Rupees ten lakh eighty thousand only) as full and
final settlement of all the claims of the respondent no.1, 2 and 3 against the order and award dated 17.05.2018 passed by the learned Member, MACT
No.3, Kamrup (M), Guwahati in MAC Case No.609/2015. The amount shall be subject to adjustment of Rs.5,80,670/- (Rupees five lakh eighty
thousand six hundred seventy only), which had already been deposited by the appellant before the Registry of this Court. Accordingly, the learned
counsel for the respondent nos. 1, 2 and 3 has agreed that the appellant deposit the balance settlement amount of Rs.4,99,330/- (Rupees four lakh
ninety nine thousand three hundred thirty only) before the Registry of this Court within a period of 4 (four) weeks from today.
On deposit of balance settlement being made, the Registry shall convert a sum of Rs.2,00,000/- into two fixed deposits of Rs.1,00,000/- (Rupees one
lakh only) each for a period of 1 (one) year and/or till the respondent nos.2 and 3 attain majority and the balance settlement amount be disbursed to the
respondent no.1 on being identified by her learned counsel.
In the event the balance settlement sum is not paid within the time allowed, it would be open to the respondent no.1, 2 and 3 to enforce the settlement
amount.
On deposit of the balance settlement amount, the Registry shall release the statutory deposit made by the appellant.
This matter stands disposed of in this Lok Adalat.