A Motor Accident Claims Tribunal has awarded a compensation of ₹10.46 lakh to a man who was injured on being hit by a car on Peeragarhi Flyover in west Delhi in 2017.
Presiding Officer of the tribunal Hemani Malhotra granted the compensation after the victim accepted an offer of ₹10.46 lakh by the insurance company with which the offending vehicle was insured.
“I am satisfied that the parties have settled the claim amicably without any inducement, force or coercion. In view of the statements of the parties, I pass an award in the sum of ₹10,46,600 towards full and final compensation of the present claim to the injured/petitioner,” he said.
“Since the offending vehicle was insured to cover third party risk and the insurance company has indemnified the registered owner of the offending vehicle, it is under the statutory liability to pay the compensation. Hence, the insurance company is liable to pay the award amount to the petitioner,” Ms. Malhotra further said.
The tribunal said that ₹4,46,600 shall be released to the petitioner immediately to his savings account. In order to avoid the compensation money being frittered away, the balance amount of ₹6,00,000 as per share money would be deposited in 60 monthly FDRs of ₹10,000 each in the name of the petitioner, the tribunal ordered. The insurance company shall deposit the relief amount within 30 days from the date of award in State Bank of India, Tis Hazari Branch, in the name of the petitioner after intimation to the petitioner and the tribunal. In default of payment within the prescribed period, the insurance company shall be liable to pay a penal interest at the rate of 12% per annum for the period of delay till its realisation,” the tribunal further ordered.