The court modifies the compensation awarded by the Tribunal based on a settlement agreement between the parties.

JUDGMENT

This appeal is filed by the appellant in O.P.(MV) No.889 of

2018 on the file of the Motor Accidents Claims Tribunal, Kottayam. The said claim petition was filed by the appellant herein, claiming an amount of ₹56,00,000/- limited to ₹5,45,960/-, as compensation in a motor accident occurred on 22.05.2017. The Tribunal awarded an amount of ₹19,99,016/- as compensation under different heads, directing the respondent insurer to deposit the said amount along with interest at the rate of 6% per annum from the date of petition till the date of realization. Disputing the quantum of compensation awarded, the appellant has come up with this appeal.

2. Today, when the matter came up for consideration, the learned Counsel for the appellant as well as the learned Standing Counsel for the respondent insurer submitted that they have filed a memorandum of agreement dated 21.01.2026, wherein it is stated that the 3^rd respondent-insurer offered to settled an amount of ₹21,81,439/- (Rupees Twenty one lakhs eighty one thousand four hundred and thirty nine only) inclusive of interest and costs to the appellant by way of full and final settlement of all the claims advanced in this appeal. The respondent - insurer undertakes to deposit the above amounts before the tribunal within a period of two months from the date of receipt of a copy of the judgment. In case of any default, the said amount will carry interest at the rate of 7% per annum from the date of default.

3. In the light of the joint statement filed by the parties, the impugned award is modified by directing the respondent - insurer to deposit an amount of ₹21,81,439/- (Rupees Twenty one lakhs eighty one thousand four hundred and thirty nine only) to the appellant by way of full and final settlement of all the claims of the appellant against the respondent, within a period of two months from the date of receipt of a copy of this judgment, failing which, the said amount will carry interest at the rate of 7% per annum from the date of default. The claimant shall furnish copies of the PAN Card, AADHAAR Card and bank details before the 3^rdrespondent insurer within a period of two months from the date of receipt of a certified copy of this judgment so as to enable the insurance company to make the deposit as ordered above. In case of failure to furnish details as above, it shall be open for the insurance company to deposit the said amount before the Tribunal.

The appeal is disposed of, in terms of the joint statement as above. The joint statement will form part of the judgment.

Sd/-