This appeal by the appellant-Insurance Company is directed against the judgment/award
dated 11.12.2014, passed by the 3rd Motor Accident Claims Tribunal, Bhubaneswar, in MACT Case
No.237/252 of 2004, awarding an amount of Rs.15,70,000/- as compensation along with interest @
7% per annum from the date of filing of the claim application i.e. 14.5.2004, till payment.
Considering the submissions made and keeping in view the findings of the learned Tribu
nal given in the impugned award with regard to the quantum of compensation amount awarded and
the basis on which the same has been arrived at, I feel, the interest of justice would be best
served, if the awarded compensation amount of Rs.15,70,000/- is modified and reduced to Rs.10
,00,000/-(rupees Ten Lakhs), which is payable to the claimants. Further, the award of interest
@ 7% per annum is not proper and justified and therefore, the same is modified and reduced to
@6% per annum. Accordingly, the claimants are entitled to the modified compensation amount o
f Rs.10,00,000/- along with interest @6% per annum from the date of filing of the claim applic
ation. The impugned award is modified to the said extent.
