BAJAJ ALLIANZ GEN. INS. CO. LTD. Vs. DURGA

JUDGEMENT

(1.) (Through Video Conference from High Court Jammu)

(2.) During the course of hearing, both the counsels appearing for the appellant as well as respondent Nos. 1 to 6, have mutually agreed that only the interest part of the award passed by the learned Tribunal is required to be reduced from 7.5% per annum to 6% per annum and the basic amount shall remain the same. Statement made by both the counsels is taken on record.

(3.) In view of the above, the award dated 16.04.2011 is modified to the extent that the rate of interest payable by the appellant-insurance company shall be at the rate of 6 % per annum till the liquidation of the whole amount.