Thiruvananthapuram: Actor Jagathy Sreekumar will be paid an accident compensation of Rs.5.9 crore, as per a settlement reached with a private insurance company at a pre-adalat held ahead of the National Lok Adalat Day on Saturday. According to sources, this is one of the highest amounts ever in accident claims awarded in the State.
As per the settlement, Rs.2.5 crore will have to be deposited in his account as fixed deposit for a five-year period. The interest from this will be paid every quarterly. The rest of the amount will be given as a cheque through the Motor Accidents Claims Tribunal (MACT), the sources said.
The settlement amount was arrived at after considering the actor’s age when the accident occurred, film contracts he had signed at the time of the accident, possible trajectory of his career had he continued acting, his annual income tax returns, and treatment expenses.
“Jagathy was at the peak of his career having committed many films when the accident occurred and he easily had many more years of acting left in him. The settlement discussions took into consideration several factors before deciding on the amount,” said the source.
Jagathy Sreekumar was seriously injured when the car in which he was travelling rammed a median while negotiating a dangerous curve at Tenhipalam in Malappuram district on March 10, 2012. He sustained multiple fractures and injuries on his head, chest, and abdomen.
In 2013, the actor’s family moved the MACT demanding a compensation of Rs.10.50 crore.
In the mega adalat to be held as part of the National Lok Adalat Day at the district court grounds here on Saturday, around 3,000 complaints of motor accident victims whose compensation has been delayed due to legal disputes with insurance companies will be considered.
The disagreements are mostly over the compensation amount, which is dependent on various factors. They include the degree of disability sustained by the victim, contributory negligence on his or her part, if any, the cost of treatment, nature of injury, and the victim’s pre-injury earnings.