This settlement is notwithstanding the pending criminal case against the two marines.
After boat owner Freddy J and Italian authorities reached a consensus, the Kerala High court referred the issue to the Lok Adalath, the mediation centre under the Alternate Dispute Resolution system, which recorded the settlement reached between the two parties.
Freddy gave an undertaking that he would not make any further monetary claim on the case and accepted the Demand Draft of Rs 17 lakh handed over by the Italian authorities, Counsel for Freddy, Raja Vijaya Raaghavan said.
This compromise settlement comes close on the heels of an agreement reached between the families of the two fishermen and the Italian authorities, who gave them a compensation of Rs one crore each.
Freddy is the main witness in the criminal case registered against the marines, Latore Massimilliano and Salvatore Girone, who fired at the boat 'St Antony' off Kollam coast on February 15, killing the two fishermen.
Freddy was the captain of the boat, which had set off from Needakara coast, when the incident occurred.
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Earlier, the Kerala High Court had allowed the petition filed by Freddy, seeking transfer of the compensation suit to the Lok Adalat.
Freddy in his original compensation suit had claimed Rs 72 lakh from the ship owners and they had deposited a bank guarantee of Rs 10 lakh in the court.
On April 24, family members of the deceased -- Valentine Jalastine and Ajesh Binki -- reached a compromise with Italian authorities and each accepted Rs one crore as compensation.
Meanwhile, legal officials here said the compromise agreement reached by families of the deceased fishermen and the boat owner would not affect the criminal case pending against the marines, now loaded in Central prison, Thiruvananthapuram. PTI JRK APR