Settlement agreed upon by both parties leads to modification of tribunal award.

JUDGMENT

The appellant is the claimant in O.P.(MV) No.174 of 2014 on the file of the Motor Accidents Claims Tribunal, Pala. The said claim petition was filed by the appellant claiming an amount of ₹1,32,000/- as compensation in a motor vehicle accident on 31.12.2013. The Tribunal awarded an amount of ₹1,05,400/- as compensation under different heads, directing the respondent insurer to deposit the said amount along with interest @ 9% per annum from the date of filing the claim petition till realization. Being dissatisfied with the compensation awarded, the appellant has come up in 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 joint statement dated 13.12.2025, wherein it is stated that the claim of the appellant has been settled by the respondent insurer, agreeing to transfer by way of NEFT an amount of ₹1,72,000/- (Rupees One lakh seventy two thousand only) 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. There is no threat, collusion, coercion or undue influence in arriving at the above settlement. There is no mistake in arriving at this settlement either.

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 additional amount of ₹1,72,000/- (Rupees One lakh seventy two thousand only) by way of full and final settlement of all the claims of the appellant against the respondent, within a period of two days 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 respondent insurer 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.

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