United India Insurance Co. Ltd. v. Mrs.R.Thangamani
Case brief
What is this about?
M/s United India Insurance Company Limited appealed the Motor Accident Claims Tribunal's award of Rs.8,49,000/- to R.Thangamani. The Court held the quantum was not exorbitant but reduced the applicable interest rate from 9% to 7.5% per annum.
What did the court decide?
The insurance company directed to deposit Rs.8,49,000/- with interest at 7.5% per annum from the date of claim petition.