Reliance General Insurance Co Ltd vs Ram Avadh Shukla & Ors
2017 Latest Caselaw 4843 Del

Citation : 2017 Latest Caselaw 4843 Del
Judgement Date : 7 September, 2017

Delhi High Court

Reliance General Insurance Co Ltd vs Ram Avadh Shukla & Ors on 7 September, 2017

$~9
*     IN THE HIGH COURT OF DELHI AT NEW DELHI
                                      Decided on: 7th September, 2017
+     MAC.APP. 121/2017 and CM APPL.4585/2017 (stay)

      RELIANCE GENERAL INSURANCE CO LTD..... Appellant
                          Through:         Mr. A.K. Soni, Advocate


                          versus


      RAM AVADH SHUKLA & ORS                           ..... Respondents
                          Through:         Mr. Munish Kumar Sharma,
                                           Advocate for R-1.
CORAM:
HON'BLE MR. JUSTICE R.K.GAUBA

                    JUDGMENT (ORAL)

1. On the claim petition (MAC Petition No.125/2013) instituted on behalf of the first respondent on 17.07.2013, the Tribunal, by judgment dated 08.12.2016, has awarded Rs.6,23,878/- as compensation for injuries suffered by him in a motor vehicular accident that occurred on 19.12.2012 at 5:30 p.m. due to negligent driving of Tata Tempo bearing registration No.DL-1LG-4205, admittedly insured against third party risk with the appellant insurance company (insurer) for the period in question, fastening the liability on the insurer to pay the same with interest @ twelve per cent (12%) per annum.

2. The appeal is pressed only to raise grievance about the rate of interest, the argument being that the same is excessive.

3. Indeed, the tribunal has not indicated any special reasons for imposing the interest liability at the rate higher than the ordinary. Following the consistent view taken by this Court, the rate of interest is reduced to nine per cent (9%) per annum, from the date of filing of the petition till realization. (See: judgment dated 22.02.2016 in MAC.APP. 165/2011 Oriental Insurance Co Ltd v. Sangeeta Devi & Ors.).

4. By order dated 06.02.2017, the enforcement of the award was stayed subject to the appellant depositing the entire awarded amount with interest @ nine per cent (9%) per annum with the Tribunal. From out of such deposit, some portion was ordered to be released to the claimant by order dated 15.05.2017 and the remaining kept in fixed deposit receipts. The balance deposit shall also now be released to the claimant.

5. The statutory amount shall be refunded to the appellant.

6. The appeal along with accompanying application stands disposed of in above terms.

7. Dasti.

R.K.GAUBA, J.

SEPTEMBER 07, 2017 vk