ORIENTAL INSURANCE COMPANY LIMITED SECUNDERABAD Vs. N NIRMALA

JUDGEMENT

(1.) THIS appeal was filed by the Oriental Insurance Company Limited represented by its Divisional Manager, Secunderabad, aggrieved by the interest of 15% per annum awarded by the Tribunal on the compensation of Rs. 2,85,200/- for the death of N. Eshwaraiah who was travelling in the Car ATU-7479 on 28-11-1989 when the accident occurred.

(2.) LEARNED Counsel for the appellant submitted that the award of 15% interest per annum is very high. The Courts are awarding interest of 12% per annum. Therefore, the award is modified to the extent of reducing the rate of interest from 15% to 12% per annum from the date of filing of petition. Accordingly, the award is modified to the extent of award of 12% interest on the compensation awarded by the Tribunal below from the date of petition. In respect of other issues, the award passed by the Tribunal is confirmed. The appeal is partly allowed. No costs.