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The Motor Vehicles Act, 1988

152. Settlement between insurers and insured persons.

  1. No settlement made  by an  insurer in respect of any claim which might be made by  a third  party in  respect of  any liability  of  the  nature referred to  in clause  (b) of sub-section (1) of section 147 shall be valid unless such third party is a party to the settlement.
  2. Where  a person  who is insured under a policy issued for the purposes of  this Chapter  has become  insolvent, or  where,  if  such insured person  is a  company, a  winding up  order has been made or a resolutionfor a  voluntary winding  up has  been  passed  with  respect  to  the company, no  agreement made between the insurer and the insured person after the  liability has  been incurred to a third party and after the commencement of  the insolvency or winding up, as the case may be, nor any waiver, assignment or other disposition made by or payment made to the insured person after the commencement aforesaid shall be effective to defeat  the rights  transferred  to  the  third  party  under  this Chapter, but  those rights  shall be the same as if no such agreement, waiver, assignment or disposition or payment has been made.

Motor Vehicles Act, 1988 Back

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