4. Thus, taking Rs.7,500/- as the monthly income of the deceased, this Court proceeds to calculate the compensation accordingly. As per the recent larger bench decision of the Supreme Court in the case of National Insurance Company Limited Vs. Pranay Sethi and Ors. decided on 31st October, 2017, the claimants would be entitled for 25% of the income towards future prospects which would make the monthly income of the deceased at Rs.9,375/- and the yearly income at Rs.1,12,500/-. If 1/4th of the said amount is deducted towards personal expenses, the amount comes to Rs.84,375/which if multiplied applying the multiplier of 14, the amount would come to Rs.11,81,250/- towards loss of dependency. Considering the total number of claimants and most of them being minor children, this Court is of the opinion that the compensation awarded under conventional head by the Tribunal does not warrant any interference. The claimants thus shall be entitled for Rs.2,35,000/- under the conventional head making the total compensation at Rs.14,16,250/-. Thus, the claimants shall be entitled for a total compensation of Rs.14,16,250/- in stead of Rs.9,72,100/- as awarded by the Tribunal.
