Point of Law: Motor Vehicle - Amicable settlement between parties - In view of settlement arrived at between parties, award is modified to extent that a sum of Rs. 25 lacs shall be payable to respondents as full and final settlement of their claim.

ORDER :

1. The appellant-Insurance Company being aggrieved by the award dated 13.07.2020 passed by the Motor Accident Claims Tribunal, Doda in Claim Petition No. 146/2016 titled, Mohd Shafi and Others vs. The New India Assurance Co. Ltd. by virtue of which a sum of Rs. 31,71,600 along with interest @ 7% per annum has been awarded in favour of the respondents, has preferred the present appeal.

2. During the course of hearing, learned counsel for the parties submit that the parties have reached to an amicable settlement of the claim and the respondents have agreed to receive Rs. 25 lacs in total as full and final settlement of the claim lodged by them for grant of compensation.

3. Mr. Syed Tayoub Bukhari, learned counsel for the respondents submit that the respondents have agreed to receive a sum of Rs. 25 lacs in total as full and final settlement of their claim and he has been instructed by the respondents to make such a statement. His statement is taken on record.

4. In view of the settlement arrived at between the parties, award dated 13.07.2020 is modified to the extent that a sum of Rs. 25 lacs shall be payable to the respondents as full and final settlement of their claim. The same shall be released in favour of the minor respondents strictly in accordance with manner as provided in the impugned judgment/ award. Excess amount, if any, shall be returned to appellant-insurance company.

Appeal Disposed of.