AI Structured Summary
Not yet generated for this judgment
No AI summary yet
Generate an eight-section analysis of this judgment — facts, issues, reasoning, ratio and a plain-language gist.
Judgment
5 paragraphs · 169 wordsNajmi Waziri, J
This appeal impugns the award of compensation dated 14.11.2008 passed by the learned MACT in Suit No. 09/06, primarily on the ground that rate of interest @7.5% p.a. is on the lower side and it should be enhanced. The Court is of the view that for the past almost half a decade, rate of interest has been calculated at 9% p.a. It is so ordered in the present case. Accordingly, on the awarded amount of Rs. 4,34,000/-, interest shall be payable @ 9% p.a. from the date of filing of the Claim Petition till its realization.
Let the computed amount be deposited before the learned Tribunal, within three weeks from the date of receipt of copy of this order, to be released to the beneficiary(ies) of the Award, in terms of the scheme of disbursement specified therein.
It will be open to the insurer to pursue its recovery rights in terms of the Award.
The appeal is disposed-off in the above terms.