UNITED INDIA INSURANCE CO Vs. KANWAR LAL

JUDGEMENT

(1.) Respondents no. 1 and 2 are seeking review of the judgment dated 27th April, 2012 to the extent that the appellant be directed to pay interest on the principal award amount of Rs. 10,00,000/- from 22nd September, 1999 to 10th November, 2009 in terms of the judgment of the learned Motor Accident Claims Tribunal. Respondent nos. 1 and 2 also seek enhancement of rate of interest from 7% to 9% after 11th November, 2009.

(2.) The accident dated 17th October, 1998 resulted in death of Praveen Kumar aged 18 years who was survived by his parents (respondents no. 1 and 2) who filed the claim petition before the Claims Tribunal. The Claims Tribunal awarded compensation of Rs. 10,00,000/- to respondents no. 1 and 2 which was challenged by the appellant before this Court.

(3.) Vide order dated 14th October, 2009, this Court directed the appellant to deposit Rs.10,00,000/- with UCO Bank within 30 days, in pursuance to which the appellant deposited Rs.9,50,000/- on 10th November, 2009 which was kept in fixed deposit with UCO Bank. The interest on the said fixed deposits was released to respondents no.1 and 2. The original fixed deposit has been released to the respondents in terms of the judgment dated 27th April, 2012.