The cruise ship sank after an accident with collision with a reef close to the Italian riviera. The cruise ship sank on 400 meters off shore from the Giglio Island on January 13.

Costa Concordia Italian luxury liner ships which faced a miserable fate on January 13, in which almost eleven are feared dead. 21 passengers and crew members are still unaccounted for following the disaster.  The company on Friday announced a meek compensation of rs.7.14 Lakhs to all the 3000 passengers who boarded the ill fated liner. In addition the liner also pledged to refund the cost of the disastrous cruise and any transportation costs. The compensation package is announced in return for not taking legal action. The company states that package is for lost belongings and psychological damage. There is no mention for the life loss or for the medical treatments mete out by the survivors in general.

As a further incentive for dropping legal action the company is offering passengers a 30 per cent discount on future cruises. The offer has already been criticized by consumer group, Codacons, who have urged passengers not to accept the offer. Codacons are currently filing a multi-million pound law suit in Miami against the cruise ship's parent company, Carnival Plc, seeking 1, 25,000 for each passenger.  (With inputs from internet-AarKay