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2025 Supreme(Online)(SCDRC) 6213
STATE CONSUMER DISPUTES REDRESSAL COMMISSION
H.P.S. Mahal, Kiran Sibal, JJ
Bajaj Allianz Life Insurance Company Limited – Appellant
Versus
Amarpal Singh – Respondent
First Appeal No.382 of 2025
For the Appellants/Petitioners: Ms. Monika Thatai
For the Respondents: Sh. I.S. Bhatti, Sh. Amarpal Singh, Sh. Vineet Sehgal
Court recognized and enforced an amicable settlement between parties, allowing withdrawal of appeal.
Headnote:The appeal originated from a settlement between the parties where the insurance company agreed to pay a specified amount to extinguish its obligations under the policy. The court acknowledged the amicable resolution and noted that the appeal was withdrawn based on the agreement reached. Ultimately, the appeal was dismissed as withdrawn, with instructions regarding the return of deposited funds.
| Table of Content |
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| 1. settlement statements were agreed upon by parties. (Para 2 , 3) |
| 2. appeal was dismissed on grounds of mutual consent. (Para 4 , 5) |
For the appellant : Ms. Monika Thatai, Advocate For respondent No.1 : Sh. I.S. Bhatti, Advocate with Sh. Amarpal Singh, In person For respondent No.2&3: Ex parte For respondent No.4 : Sh. Vineet Sehgal, Advocate H.P.S. MAHAL, PRESIDING JUDICIAL MEMBER:-
Learned counsel for the appellant/OP No.2 has made a statement recorded separately, which is as under:-
“The matter has been amicably settled between the parties and as per settlement the appellant-insurance company will pay Rs.5,77,810/- to IIFL within two weeks from the date of receipt of copy of order and IIFL would further deduct their loan outstanding amount i.e.Rs.4,01,769/- and would disburse the remaining amount of Rs.1,76,041/- into the bank account of the complainant(Amarpal Singh) without any fail. Further, the IIFL would issue No objection certificate/No due certificate of property in favour of the complainant within three weeks from the date of receiving the payment. Upon payment the policy would be deemed to be cancelled with immediate effect and all benefits attached the policy would be ceased. In view of the said terms, I hereby withdraw the present appeal. The amount deposited by the appellant at the time of filing of the present appeal, may kindly be released to the appellant along with up to date interest.”
2. Respondent No.1/complainant No.1 along with his counsel Sh.
Jagmohan Singh Bhatti, Advocate has also made a statement which is as under:-
“I have heard the above said statement made by the learned counsel for the appellant-insurance company and agree with the same.
3. Learned counsel for respondent No.4/OP No.1 has also made a statement, recorded separately, which is as under:-
“I have heard the statement made by the learned counsel for the appellant-insurance company and agree with the same.”
4. In view of the above statements, the present appeal is dismissed as withdrawn.
5. The appellant had deposited an amount of Rs.3,29,732/- at the time of filing of the appeal. This amount along with interest if any, accrued thereupon, be remitted by the Registry to the appellant against proper receipt and as per rules.
