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Karthik (NA)     25 April 2016

Accident insurance

My Mom Suffered serious injuries after a car accident. recently the insurance company agreed to compensate a certain amount in Lokadalat. After that, my mom has been forced to open an account in Indian Bank outside Madras High Court despite the fact she already has an account in Indian Bank elesewhere. Is there something illegal going on here? Looks like the people in court have some kind of tie up with the Indian Bank.

 2 Replies

Kumar Doab (FIN)     25 April 2016

The insurer can ask to pay by NEFT or issue cheque/ DD that can be banked by recipient in any of his/her accounts.

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     19 September 2016

The state high court  stated that the banks and other institutions "cannot deduct income tax from the amount of motor accident claims tribunals, deposited in the banks". The claimant can tell court about his/her bank account number, so that the insurer directly deposit into bank. 

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