NEW INDIA ASSURANCE COMPANY LTD. THROUGH REGIONAL OFFICE BY DULY CONSTITUTED ATTORNEY Vs. ANITHA SURESH KOTIAN W/O SURESH S. KOTIAN AND OTHERS

JUDGEMENT

(1.) MFA 9657/2006 is filed by the Insurance Company challenging the judgment and award passed by the Motor Accidents Claims Tribunal (for short 'the Tribunal') Udupi in MVC No. 346/2004 dated 30 -6 -2006. MFA 12935/2006 is filed by the claimants being not satisfied with the quantum of compensation awarded to them by the Tribunal in MVC No. 346/2004 dated 30 -6 -2006.

(2.) THE following facts are not in dispute: In a road traffic accident that occurred on 1 -6 -2003, a leading textile businessman by name Suresh S. Kotian who was aged 40 years died in the accident. He had textiles and tailoring section both at Bombay and Mangalore. He was assessed to income tax. The Tribunal considering the Saral Forms and also considering his income at Rs. 2,04,977/ - p.a., after deducting 30% of the tax payable which comes to about Rs. 1,43,770/ - p.a. After deducting 1/3 towards his personal expenditure and applying the multiplier of 13 the Tribunal had assessed the loss of dependency at Rs. 12,43,476/ -. In addition to that. Rs. 1,45.000/ - has been awarded under the conventional heads. Thus, the Tribunal has awarded the total compensation of Rs. 13,88,476/ - with interest at the rate of 6% p.a. from the date of petition till the date of payment.

(3.) WE have heard the learned Counsel for the parties.