The Supreme Court on Tuesday directed the closure of criminal proceedings in India against two Italian marines, accused of killing two fishermen off the Kerala coast in February 2012.

A vacation bench of Justices Indira Banerjee and M R Shah quashed the FIR and proceedings emanating from the case against the two Italian marines.

The bench said that as per the international arbitral award accepted by India, the Republic of Italy shall resume further investigation in the case.

The top court termed the Rs 10 crore compensation paid by the Republic of Italy over and above the payment already made as reasonable and adequate .

It said that out of the Rs 10 crore compensation, Rs 4 crore each shall be deposited in the name of heirs of two deceased Kerala fishermen and two crore shall be given to owner of boat.

In February 2012, India had accused the two marines on board the MV Enrica Lexie -- an Italian flagged oil tanker -- of killing two Indian fishermen who were on a fishing vessel in India's Exclusive Economic Zone (EEZ).