A.T. MANJUNATH, S/O. LATE THIMMAIAH AND A.T. ARUN KUMAR, S/O. LATE THIMMAIAH Vs. THE BRANCH MANAGER, M/S. NATIONAL INSURANCE COMPANY LTD., BRANCH OFFICE, MUDDAPPA COMPLEX, SHIRANI ROAD, TUMKUR - 572101 AND S.G. KRISHNASWAMY, S/O. S.B. GANGADHARA

JUDGEMENT

(1.) THE parties have settled the matter amicably. Accordingly, they have filed a joint -memo. The joint memo is signed by the claimants as well aS the owner of the vehicle and their respective Advocates, The owner of the vehicle Sri S G Krishnaswamy, has agreed to pay a sum of Rs. 1,30,000/ - in full and final settlement of the claims within a period of three months, He has agreed to deposit the amount before the Tribunal. The Joint memo further reads that if the amount is not deposited within three months, the same shall carry interest at 18% p.a. on Rs. 1,30,000/ - to be calculated from today and the Learned Counsel for the parties submit that the liability saddled on the appellant/National Insurance Company in MFA No. 10485/2006 has to be set aside.

(2.) THE appellants/ claimants and owner of the vehicle are present before Court They have been identified by the respective Advocates. The joint memo is placed on record. In -view of the joint memo, the judgment and award passed by the MACT in MVC No.2735/2004 dated 3.3.2006 is hereby modified. The liability of the appellant/Insurance Company is exonerated.

(3.) THE amount, if any, deposited in MFA No.10485/2006 Is ordered to be refunded to the appellant/Insurance Company.