M.F.A.No.6327/2023 1 HIGH COURT LEGAL SERVICES COMMITTEE, BENGALURU BEFORE THE NATIONAL LOK ADALAT IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 13TH DAY OF SEPTEMBER 2025 CONCILIATORS PRESENT: THE HON’BLE MRS. JUSTICE K.S.MUDAGAL & SMT.P.V.KALPANA, MEMBER MISCELLANEOUS FIRST APPEAL No.6327/2023 (MV-D) (Lok Adalat No.8058/2025) BETWEEN: THE MANAGER ICICI LOMBARD GIC LTD NO 121,THE ESTATE BUILDING 9TH FLOOR, DICKSON ROAD VASANTH NAGAR BANGALORE – 560 010 ...APPELLANT (BY SRI B.PRADEEP, ADVOCATE) AND: 1. SMT DIVYA W/O LATE MOHAN BABU AGED ABOUT 25 YEARS 2. MASTER MANVITH S/O LATE MOHAN BABU AGED ABOUT 5 YEARS 3. SIX MONTHS OLD CHILD S/O LATE MOHAN BABU 4. SHIVARAMAIAH S/O PULLAIAH AGED ABOUT 58 YEARS M.F.A.No.6327/2023 2 5. ANJANADEVI W/O SHIVARAMAIAH AGED ABOUT 49 YEARS R2 & R3 ARE MINORS REP. BY HER MOTHER/ NATURAL GUARDIAN, I.E., R1 ALL ARE R/AT NO.176/A NELLURU PURAM, THIPPASANDRA BANGALORE NORTH BANGALORE – 560 075 PRESENT ADDRESS: CHOWDAPANAHALLI BUDIGERE (P), DEVANAHALLI TQ. BENGALURU RURAL 6. M/S JUGGERNAUT VENTURES NO.2835, 5TH CROSS, 5TH MAIN 1ST BLOCK, KORAMANGALA BANGALORE – 560 034 KARNATAKA …RESPONDENTS (BY SRI NARESH KUMAR P C, ADVOCATE FOR R1 TO R5; R6 SERVED & UNREPRESENTED) THIS MISCELLANEOUS FIRST APPEAL IS FILED UNDER SECTION 173(1) OF MV ACT PRAYING TO SET ASIDE THE JUDGMENT AND AWARD DATED 23.06.2023 PASSED IN MVC NO.3381/2021 ON THE FILE OF THE V ADDITIONAL SMALL CAUSES JUDGE AND XXIV ACMM, BENGALURU CONCURRENT CHARGE, MAYO HALL UNIT, BENGALURU SCCH-20, AWARDING COMPENSATION OF RS.55,85,000/- WITH INTEREST AT 6% P.A. FROM THE DATE OF PETITION TILL REALIZATION. THIS MISCELLANEOUS FIRST APPEAL COMING ON FOR CONCILIATION BEFORE NATIONAL LOK ADALAT, THE FOLLOWING CONCILIATION ORDER IS PASSED: M.F.A.No.6327/2023 3 CONCILIATION ORDER Learned Counsel for the appellant-Insurance Company along with its representative and learned Counsel for the respondents–claimants are present. 2. After negotiation, the matter is settled. A joint memo signed by learned Counsel appearing for the appellant/Insurance Company, its authorized officer and learned Counsel appearing for the respondents- claimants (being authorized by the appellants/claimants to sign) is filed. The claimants have agreed to receive and the Insurance Company has agreed to pay a lump-sum of Rs.56,31,395/- (Rupees Fifty Six Lakhs Thirty One Thousand, Three Hundred and Ninety Five only) as full and final settlement of the claim instead of compensation awarded by the Tribunal. The said amount includes statutory amount deposited before this Court and the amount deposited in terms of the order dated 20.09.2023. 3. The Insurance Company 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 M.F.A.No.6327/2023 4 the date of deposit. On such deposit, amount shall be digitally released to claimant Nos.1, 4 and 5 according to their shares before the Tribunal and shares of claimant Nos.2 and 3 shall be invested in fixed deposit in any nationalized bank/scheduled bank till they attain majority. 5. The appeal stands disposed of in terms of the joint Memo. The impugned judgment and award of the Tribunal shall stand modified accordingly. Draw award accordingly. Amount in deposit, if any, shall be transmitted to the Tribunal forthwith. Sd/- JUDGE Sd/- MEMBER KSR