MANAGING DIRECTOR Vs. SARASWATHAMMA

JUDGEMENT

(1.) The learned Counsel for the appellant - K.S.R.T.C. along with its representative and the learned Counsel for the respondent Nos. 1 to 4 - claimants are present.

(2.) After prolonged negotiations, the matter is settled. The appellant - Corporation has agreed to pay and the Respondent Nos.1 to 4 - claimants have agreed to receive a sum of Rs. 14,07,500/- (Rupees Fourteen Lakhs Seven Thousand and Five Hundred only) with interest @ 9% p.a. from the date of petition till the date of deposit, instead of Rs.16,77,500/- (Rupees Sixteen Lakhs Seventy Seven Thousand and Five Hundred only) with interest @ 9% p.a. from the date of petition till the date of realization, awarded by the Tribunal, in full and final settlement of the claim. A joint Memo is filed on behalf of the parties to this effect.

(3.) The appellant - Corporation has agreed to deposit the said amount before the Tribunal within six weeks from the date of preparation of award, failing which the said amount shall carry interest at the rate of 9% P.A. from the date of default, till the date of deposit.