Vijayaragan Story Mhc Advt: In a swift and phenomenally positive response to the suggestion made by Justice Anand Venkatesh to his orders dt.11/5/2020, requesting insurers etc to withdraw appeals pending High Court,
[5/13, 16:51] Vijayaragan Story Mhc Advt: In a swift and phenomenally positive response to the suggestion made by Justice Anand Venkatesh to his orders dt.11/5/2020, requesting insurers etc to withdraw appeals pending High Court, with stakes less than Rs7,50,000/- as a one-off gesture during these Pandemic Times, M/s. Tata AIG Genl Ins Co Ltd, withdraw drew appeals valued in all at Rs. 34,28,065/- in all. Tata’s have shown the way for the others to take a conscience and follow the leaders.
By orders dt. 13/5/2020, the learned Judge has generously commended Tata AIG Genl Ins Co Ltd, for their goodwill gesture. The withdrawal of these appeal, without prejudice to the legal issues in those appeal, has put Rs.34,28,065/- in the hands of the victims, where it would Constituent a huge rescue and recovery passage, in these financially constraining times. Not stopping with, the learned Judge has hoped that other insurers would also emulate this worthy example. It is found that in terms of the orders dt.11/5/2020, copies have been sent to Central Government/TN State Government, IRDA, General Insurance Council, 4 PSU insurers and 21 private motor insurance players, for their ‘kind consideration’ . Worth reading the orders dt.13/5/2020. Hope the rest follow the Tatas example.
[5/13, 16:52] Sekarreporter 1: https://www.livelaw.in/news-updates/madras-hc-requests-center-insurance-companies-to-consider-withdrawing-appeals-against-mact-awards-where-claim-amount-is-less-than-75-lakh-read-judgment-156656