Parties reached a mediated settlement modifying the initial compensation awarded in a motor accident claim case.

JUDGMENT

The appellants are the claimants in OP(MV) No.205 of 2017 on the file of the Motor Accidents Claims Tribunal, Perumbavoor. The said claim petition was filed by the appellants claiming an amount of ₹50,00,000/- as compensation for the death of the deceased, who succumbed to the injuries sustained in a motor accident occurred on 11.08.2016. The tribunal awarded an amount of ₹33,01,615/- as compensation under different heads, directing the respondent insurer to deposit the said amount along with interest at the rate of 8% per annum from the date of filing the claim petition till realization. Being dissatisfied with the compensation awarded, the appellants have come up in appeal.

2. On 31.01.2026, when the matter was taken up for consideration, the matter was referred for mediation to the Special Campaign under the head, Mediation 'For the Nation-2.0', finding that there is a fair chance for settlement.

3. Today, it is reported that the matter is settled in mediation. The mediator submitted a memorandum of agreement dated 11.02.2026 entered into between the parties along with report dated 17.02.2026. In the memorandum of agreement, it is stated that the claim of the appellants has been settled by the respondent insurer, agreeing to deposit a further amount of ₹9,53,000/- inclusive of interest and costs by way of full and final settlement of all the claims of the appellants against the respondent insurer, before the tribunal 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.

4. In the light of the memorandum of agreement filed by the parties, the impugned award is modified by directing the respondent insurer to deposit an amount of ₹9,53,000 /- (Rupees nine lakh fifty three thousand only) inclusive of all interest and costs by way of full and final settlement of all the claims of the appellants against the respondent insurer, before the tribunal 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 appeal is disposed of, in terms of the memorandum of agreement as above. The memorandum of agreement will form part of the judgment.

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