This case is taken up for settlement before the National Lok Adalat. Both the parties are present. Mr.U.Chithambaram, learned counsel appearing for the appellant / claimant and Mr.D.Bhaskar, learned counsel appearing for the second respondent/ Insurance Company are present. After mutual discussion, negotiation, mediation and conciliation between both parties, they arrived at a compromise to settle the matter as follows:

TERMS OF SETTLEMENT

The Tribunal has awarded a sum of Rs.3,60,234/- with interest at 7.5% per annum as compensation from the date of petition till the date of deposit.

It is represented by the Second respondent/Insurance Company that the entire amount has already been deposited and withdrawn by the appellant/claimant.

2. The appellant/claimant has preferred the present appeal seeking enhancement of compensation. It has been agreed by both parties that, over and above the amount awarded by the Tribunal, a further sum of Rs.2,00,000/- (Rupees Two Lakhs only) shall be paid to the appellant/claimant in full quit. The second respondent-Insurance Company is directed to deposit the enhanced amount within a period of six weeks from the date of receipt of a copy of this order. Upon such deposit, the appellant/claimant is permitted to withdraw the enhanced compensation. The appeal is disposed of in terms of the above settlement. An award is passed accordingly.

3. The Tribunal is directed to disburse the award amount to the party concerned through RTGS/electronic transfer, on proper identification in accordance with the terms of the award, without insisting on any formal petition. The Civil Miscellaneous Appeal is disposed of accordingly.