BEFORE THE TELANGANA STATE CONSUMER DISPUTES REDRESSAL COMMISSION : HYDERABAD.

F.A.No.37/2014 IN C.C. 44/2012 DIST. FORUM-KHAMMAM.

Between:

1.    Smt. Bussa Sarojini W/o. Late B.V.Satyanarayana

2.    Bussa Renuka D/o. Late B.V.Satyanarayana   

3.    Bussa Sravani D/o. Late B.V.Satyanarayana                              

4.    Bussa Raghuram S/o. Late B.V.Satyanarayana 

                                                                                      …Appellants/Complainants

         And

1.   M/s. ICICI Prudential life Insurance Co., Ltd.,

ICICI Prulife Towers, 1089,

Appasaheb Marathe Marg,

Prabhadevi, Mumbai.

2.   M/s. ICICI Prudential life Insurance Co., Ltd.,(Branch Office)

Upstairs Gorkey, Hospital Complex,

Wyra Road, Khammam.                     …Respondents / opposite parties                                                                       

Counsel for the Appellant               :      Mr. Srinivas Karra

Counsel for the Respondents     :   Sri C.Sai Kumar

Hon’ble Sri Justice B.N.Rao Nalla   …     President

&

Sri Patil Vithal Rao  …           Member

WEDNESDAY, THE TWENTY FIRST DAY OF SEPTEMBER,

TWO THOUSAND SIXTEEN.                                                                                                                                                                                                                                                                                                                                                        .

Oral Order : (Per Hon’ble Justice Sri. B.N.Rao Nalla, President).

                                                    ***

      Appellants are the Complainants, respondent  No.1 & 2 are the opposite parties in C.C.No.42/2012 dated 18.06.2013 on the file of the Dist. Forum-Khammam.   The Dist. Forum dismissed the complaint by the order dt.18.06.2013.

      Aggrieved by the said order, the complainant preferred this appeal, praying to set aside the order of the Dist. Forum and allow the appeal.

       Heard. The respondents have filed a Compromise Memo in which it is stated as follows:

       “ The Complainant and Respondent Nos.1 & 2 do hereby agree for setting aside of order of Hon’ble District Consumer Forum, Khammam in CC.37/2014 dated 18.06.2013 by allowing the aforesaid appeal. The appellant as a goodwill gesture and only as a very special case the Answering Respondents has agreed to cancel the policy number 09649208 and have paid the amount of Rs.1,55,000/- vide cheque bearing No.137045 dated 19.08.2016 drawn on ICICI Bank.  And also unconditionally provide consent for the above said proposition and also undertake not to file any other complaint or initiate any other legal proceedings in any Court, tribunal or Forum whatsoever in respect of Policy No.09649208 against the Respondents or against any Director or officer or employee of the Respondents.  On the said clearance of the payment as aforesaid, ICICI Prudential life Insurance Company Ltd., and all its officials shall stand discharged from all its claims and liabilities, direct and indirect what so ever arising in respect of the subject policy          and has no objection to Respondents/Complainants withdrawing the same.”        

 As per the above stated Compromise Memo,   understood and agreed by and between the parties that in pursuance of this settlement, Policy No.09649208 stands terminated with all the coverage and benefits there under.   Both parties have agreed to settle the matter and prays that the Hon’ble Commission be pleased to dispose of the Appeal No.37/2014 in respect of Policy No.09649208.   

The Memo is recorded.

         In the circumstances, the appeal is disposed of accordingly.  

PRESIDENT    MEMBER                                   Dt.21.09.2016