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Judgment
12 paragraphs · 199 wordsThe appellant has challenged the award of the Claims Tribunal whereby compensation of Rs.3,95,641/- has been awarded to respondent No.1.
Learned counsel for the appellant submits that the Claims Tribunal has awarded interest @ 12% per annum which is on a higher side. It is
submitted that this Court has been consistently awarding interest @ 9% per annum. It is further submitted that Claims Tribunal has imposed a cost of
Rs.10,000/- without any justification.
There is no appearance on behalf of respondent No.1 . No one appeared on 22nd February, 2018 as well.
This Court is satisfied that the Claims Tribunal ought to have awarded interest @ 9% per annum. This Court also does not find any justification to
MAC.APP. 593/2017 & CM APPL. impose cost of Rs.10,000/-. Â Â Â
The appeal is allowed and the interest of 12% per annum awarded by the Claims Tribunal is reduced to 9% per annum. Cost of Rs.10,000/-
imposed by the Claims Tribunal is set aside.
Copy of the judgment be sent to respondent No.1.
Statutory amount be refunded back.
Copy of this judgment be given dasti to counsels for the parties under