M.S. Sonak, J.:— Heard Mr. James Lopes, learned Counsel for the appellant/applicant and Mr. Deepak Gaonkar, learned Counsel for respondent nos. 1 & 2 (claimants).
2. By consent, the delay in institution of this appeal is condoned.
3. Further, again by consent, the compensation amount of Rs. 26,30,000/- awarded by the Tribunal vide impugned award dated 02.08.2016 in Claim Petition No. 35/2014 is now reduced to Rs. 24,10,000/-.
4. The learned Counsel for the parties point out that this reduction is upon applying the law laid down by the Hon'ble Supreme Court in the case of National Insurance Company v. Pranay Sethi (2017) 16 SCC 680.
5. This application and appeal is disposed of by consent without going into the issues of maintainability, etc.
6. The impugned award is modified to the aforesaid extent by consent.
7. Mr. Lopes, learned Counsel for the appellant/Insurance Company, states that the aforesaid amount of Rs. 24,10,000/- together with interest at the rate of 9% per annum will be deposited in this Court within two months from today. This statement is accepted. Upon deposit, the claimants will be entitled to withdraw the same.
8. The claimants can also withdraw the amount of Rs. 25,000/- that is already deposited by the appellant as precondition for the institution of this appeal. This amount can be adjusted by the Insurance Company when making the deposit in terms of this order that is made with the consent of the learned Counsel for the parties. The claimants will have to submit proper identification and bank details so that the Registry can directly transfer the amounts into their bank accounts.
9. Civil Application, if any, will not survive the disposal of this appeal. It is disposed of.