This judgment allowed an appeal to reduce the post-numbering interest rate from 12% to 7.5%. The court modified the award to grant the petitioner Rs. 2,63,150 with specified interest rates before and after the case number designation.
Principal amount of Rs. 2,63,150 awarded with 9% interest until case numbering and 7.5% interest thereafter.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
C.M.A(MD)No.476 of 2013
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT
Dated: 07.02.2024
CORAM:
THE HON'BLE MR.JUSTICE P. DHANABAL
C.M.A(MD)No.476 of 2013 and M.P(MD)No.1 of 2013
The Managing Director, M/s.Tamil Nadu State Express Transport Corporation Limited, Chennai. ... Appellant/2nd Respondent Vs.
1.Raju ... 1st Respondent/Petitioner 2.Sivaperumal ... 2nd Respondent/1st Respondent 3.Venkatesan ... 3rd Respondent/3rd Respondent 4.Balasubramanian ... 4th Respondent/4th Respondent
Prayer : This Civil Miscellaneous Appeal filed under Section 173 of the Motor Vehicles Act, 1988, to set aside the decree and judgment, dated 22.12.2006 made in M.C.O.P.No.11 of 2005 on the file of the Motor Accident Claims Tribunal, Kuzhithurai.
For Appellant : Mr.M.Prakash
C.M.A(MD)No.476 of 2013
For R-1 : Mr.N.S.Rama Krishna Dass
JUDGMENT
When the matter is taken up for hearing today, the learned Counsel appearing for the appellant represented that the main contesting respondent is the first respondent and the second and third respondents are only formal parties. Hence, as against the third respondent he is given up. Further, the learned Counsel appearing for the appellant fairly conceded that the appeal is filed as against the quantum of compensation awarded by the Tribunal and now, he is only disputing the rate of interest awarded 12% per annum and now to pray to reduce the interest amount from 12% to 7.5%.
2. The learned Counsel appearing for the first respondent objected to reduce the interest from 12% to 7.5%. Though the appeal has been preferred as against the quantum of the award amount passed by the Tribunal, the learned Counsel appearing for the appellant restricted his claim only in respect of the interest alone. Considering the date of accident and considering that the petition is pending from 2005, it is appropriate to
C.M.A(MD)No.476 of 2013
consider the arguments of the appellant. The Tribunal has awarded 12% interest based on the interest prevailing with contemporary period of accident. Considering the facts and circumstances, it is appropriate to reduce the rate of interest from the date of numbering the appeal till the realization of the amount.
3. In view of the above said discussions, this Court is inclined to reduce the interest from 12% to 7.5% from the date of numbering the appeal till the realization of the amount. In other aspects, the award passed by the Tribunal in M.C.O.P.No.11 of 2005, dated 22.12.2006 on the file of the Motor Accident Claims Tribunal, Kuzhithurai is confirmed.
4. In the result, this Civil Miscellaneous Appeal stands partly allowed and the award passed by the Tribunal is modified to the effect that the petitioner is entitled to a sum of Rs.2,63,150/- with interest at the rate of 9% from the date of petition to the date of numbering the appeal and from the date of numbering the appeal till the realization of the amount entitled to 7.5% interest. The appellant / second respondent is directed to deposit the entire amount within two months from the date of this
C.M.A(MD)No.476 of 2013
liberty to withdraw the appeal by filing appropriate application. There shall be no order as to costs. Consequently, connected Miscellaneous Petition stands closed.
07.02.2024
NCC : Yes / No Index : Yes / No Internet : Yes BTR
To
C.M.A(MD)No.476 of 2013
P. DHANABAL, J.
BTR
C.M.A(MD)No.476 of 2013
07.02.2024
1 issue framed by the court
Whether the rate of interest awarded by the Tribunal should be reduced.
Managing Director, M/s. Tamil Nadu State Express Transport Corporation Limited
Raju
Sivaperumal
Venkatesan
Balasubramanian
P. Dhanabal
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
