UNITED INDIA INSURANCE CO LTD Vs. GITABEN LAKSHMANBHAI

JUDGEMENT

(1.) BY way of filing these appeals, the appellants have challenged the judgment and order dated 18

(2.) TH September 1996 passed by THe learned Motor Accident Claims Tribunal (Main) Bhavnagar in Motor Accident Claim Petition No.292 of 1993 whereby THe Tribunal was pleased to award THe compensation to THe claimants of Claim Petitions Nos.292 of 1993, 293 of 1993 and 294 of 1993 along wiTH interest at THe rate of 15% per cent for annum from THe date of THe application till realisation.

(3.) I am in agreement with the submission made by the learned counsel for the appellant on the interest part. The Tribunal ought not to have granted interest more than 12% per annum. Hence, rate of interest awarded is reduced to 12% per annum from 15% and the penal interest awarded is set aside. The amount deposited qua penal interest and excess amount of 3% of interest will be refunded back to the appellant-insurance company if the same are deposited by the appellant with the Tribunal.