SHIV KUMAR Vs. NATIONAL INSURANCE COMPANY LTD. RESPONDENT

JUDGEMENT

(1.) The present revision petition has been filed against the order dated 11.11.2004 vide which the execution application filed by the petitioner was consigned to the Records as being fully satisfied. The only contention raised by learned counsel for the petitioner before me is that since the Insurance Company had not paid the entire amount within 30 days from the date of the award, they were entitled to pay 9% interest as well.

(2.) A perusal of the facts would show that vide award dated 20.8.2002 the Insurance Company was directed to pay the compensation of Rs. One lac along with costs of Rs. 500.00 within one month, failing which the claimant would be entitled to interest at the rate of 9% per annum from the date of filing of the petition till the date of payment.

(3.) Learned counsel for the petitioner submits that the amount was paid to him on 24.9.2002 i.e. one day after the expiry of one month and therefore he is entitled to 9% interest. As against this, the stand of the Insurance Company was two-fold. Firstly, it was stated that in fact a cheque for the entire amount of Rs. 100500.00 was got prepared on 18.9.2002. However, on account of procedural delay, it was deposited on 21.9.2002. Secondly, it was prayed that certified copy of the order was applied on 20.8.2002 and it was prepared and received only on 29.8.2002. As such 9 days grace period should be granted to the Insurance Company.