1.0 This appeal is are directed against the judgement and award dated 19.08.1997 passed by Motor Accident Claims Tribunal ( Main), Bhavnagar in Motor Accident Claim Petition No. 313 of 1997 whereby the learned Tribunal has awarded a sum of Rs. 4, 19, 000/ together with interest @ 15% from the date of application till its realization.
2.0 According to the claimants, on 17.09.1997 at about 12. 30 P.M, Karshanbhai Mathurbhai was going towards Atabhai Chowk from Rupani on his cycle on the correct side. When he reached near Rupani Police Chowki, a Tanker No. GJ 1 V 3822 came in a rash and negligent manner and in excessive speed. The tanker dashed with the bicycle of Karshanbhai. As a result thereof, Karshanbhai was thrown away on the road and he was run over by the left front wheel of the said tanker and died on the spot. The legal heirs of the deceased, therefore, filed the aforesaid claim petition wherein the learned Tribunal passed the aforesaid award which is challenged in the present appeal.
3.0 Learned advocate appearing for the appellant Insurance Company contended that the multiplier of 18 years applied for calculating the future loss of income by the learned Tribunal is on higher side and that the interest @ 15% is on higher side.
4.0 Learned advocate for the respondents supported the judgement and award of the learned Tribunal and submitted that the appeal may be dismissed.
5.0 Heard learned advocate for the respective parties and perused the documents on record.
6.0 As regards the multiplier is concerned, it is found from the record that the deceased was aged 30 years at the time of accident. Therefore, the multiplier of 18 years adopted by the leaned Tribunal for considering the future loss of income is on higher side. The multiplier of 17 years should have been applied in the present case in view of decision of the Hon'bel Apex Court in case of Sarla Varma and Others Vs. Delhi Transport Corporation Ltd. and Anr. reported in 2009(6) SCC, 121. The income of the deceased was assessed at Rs. 3500/ per month and Rs. 28, 000/ per year. By applying multiplier of 17 years it would come to Rs. 4, 76, 000/(Rs. 28000/x 17). Hence, the claimants are entitled a sum of Rs. 4,76,000/ for the loss of future income. The learned Tribunal has awarded a sum of Rs. 5,04,000/towards the future loss of income. Hence, the excess amount of Rs. 28,000/( Rs. 504000/ Rs. 476000/) is ordered to be refunded to the insurance Company. The amount awarded under the other heads are just and proper.
7.0 However, looking to the trend of rate of interest the Tribunal ought not to have granted interest at the rate of 15% per annum. The appropriate rate of interest would have been 12%. Therefore the rate of interest is reduced to 12% from 15%. The excess amount of interest to be returned to the Insurance Company. The rest of the award is not disturbed. The award of the Tribunal is modified accordingly. Appeal is partly allowed to the aforesaid extent with no order as to costs.
(K.S.JHAVERI, J.) niru*