#tripartite agreement

Bombay HC grants leave to appeal against acquittal in a Section 138 NI Act case, ruling that the accused's defence of a tripartite agreement lacked sufficient proof. The judgment underscores the accused's burden to substantiate such defences beyond mere assertion.

The Bombay High Court set aside a Lok Adalat award imposing 9% and 15% monthly interest on an insurance claim, ruling that such an interpretation directly contradicts the unambiguous language of the tripartite agreement, which only references 9% and 15% without specifying monthly compounding. This reinforces that contractual interpretation in insurance disputes must adhere strictly to textual precision, not speculative extrapolation - a critical warning to arbitral forums and insurers alike.