1. This appeal has been preferred against the judgment and award dated 12.02.1998 passed by the Motor Accident Claims Tribunal (Aux.), Rajkot at Gondal in M.A.C.P. No.628/1989 whereby, the claim petition was allowed in part and respondents no.1 to 5, original claimants, were awarded total compensation of Rs.3,58,400/- along with interest at the rate of 15% per annum from the date of application till its realization with proportionate costs.
2. The aforesaid claim petition was preferred in connection with the vehicular accident that took place on 25.09.1986 on the Gondal – Jetpur Highway, involving a Truck bearing registration No. GTY 6743 and in which two persons, viz. Dindayal Kishanchand and Laxmandas Tekchand, had expired. Being aggrieved by the impugned award, the appellant-Insurance Company has preferred the present appeal.
3. Mr. Sunil Parikh learned counsel for the appellant- Insurance Company fairly conceded that he would not be in a position to assail the impugned award on merits. He, however, requested that the rate of interest awarded by the Tribunal is on the higher side and it may be reduced to around 7% per annum.
4. Heard learned counsel for the respective parties. Having gone through the impugned award, I find that the Tribunal has appreciated the evidence on record in its proper perspective and has awarded compensation, which is just, legal and appropriate and also in consonance with the law on the subject. In view of the fair admission made by learned counsel Mr. Parikh, I am not discussing the impugned award in detail and accordingly, concur with the reasonings given by and the findings recorded by the Tribunal while awarding total compensation of Rs.3,58,400/-.
5. However, so far as the rate of interest awarded by the Tribunal is concerned, I agree with the submission made on behalf of the appellant-Insurance Company that it is on the higher side and accordingly, reduce the rate of interest to 12% per annum in view of the prevailing economic situation.
6. For the foregoing reasons, the appeal is partly allowed. The impugned award is modified to the extent that the original claimants shall be entitled for total compensation, as has been awarded by the Tribunal but, with interest at the rate of 12% per annum instead of 15% per annum, to be calculated from the date of application till the same is realized, with proportionate costs. The impugned award stands modified to the above extent only. The appeal stands disposed of accordingly. No order as to costs.
[K. S. JHAVERI, J.] Pravin/*