New SIDBI Grade A New Batch Starts on Nov 18

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    Question

    An offer of settlement is accepted by the Claimant then the Insurance company shall pay the amount of compensation in:

    A 90 days from settlement Correct Answer Incorrect Answer
    B 60 days from settlement Correct Answer Incorrect Answer
    C 30 days from settlement Correct Answer Incorrect Answer
    D as per the terms and conditions of settlement. Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    S. 149. (3) If, the claimant to whom the offer is made under sub-section (2),-- (a) accepts such offer,-- (i) the Claims Tribunal shall make a record of such settlement, and such claim shall be deemed to be settled by consent; and (ii) the payment shall be made by the insurance company within a maximum period of thirty days from the date of receipt of such record of settlement;

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