The Oriental Insurance Co. Ltd., vs Battu Ramulu
2023 Latest Caselaw 626 Tel

                             1                        RRN, J
                                             MACMA No.3480 of 2014

 THE HON'BLE SRI JUSTICE NAMAVARAPU RAJESHWAR RAO

                  MACMA No. 3480 OF 2014

JUDGMENT:

Heard learned Counsel for the appellant/Insurance

Company and learned counsel for the respondents/petitioners.

2. Aggrieved by the Order and decree dt.19.09.2002 in

O.P No.1146 of 2001 passed by the Chairman, Motor

Accidents Claims Tribunal-Cum-District Judge, Nizamabad,

(for short "the Tribunal"), the Insurance Company preferred

the present appeal seeking to set aside the above order and

decree.

3. Vide the aforesaid order, the Tribunal has awarded

an amount of Rs.5,36,500/- as against Rs.8,00,00/- claimed

by the respondents/petitioners with proportionate costs and

interest @9% per annum from the date of petition till the date

of realization.

4. The only contention of the learned Counsel for the

appellant is with regard to the interest awarded by the

Tribunal and also non-compliance of provisions of Section

158(6) of the Motor Vehicles Act, 1988 and prayed this Court 2 RRN, J MACMA No.3480 of 2014

to reduce the rate of interest from 9% to either 6% or 7.5% p.a.

Usually, the interest is being awarded @ 7.5% from the date of

petition till the date of realization. As such, this Court is

inclined to reduce the interest from 9% p.a. to 7.5% p.a.

5. Accordingly, the appeal is disposed of by reducing

the interest portion from 9% p.a. to 7.5% p.a. from the date of

petition till the date of realization. The rest of the award passed

by the Tribunal holds good. There shall be no order as to costs.

As a sequel thereto, miscellaneous applications, if any,

pending in this appeal, shall stand closed.

______________________________________ NAMAVARAPU RAJESHWAR RAO, J

7th day of February, 2023

BDR