The court's decision emphasized the consideration of future prospects for awarding compensation to a deceased self-employed person, and the calculation of compensation based on income, deductions, and the application of interest.

ORDER

1. This appeal is before three-judge Bench because of difference of opinion between the Hon'ble Judges of this Court. The difference of opinion was only on the issue whether the future prospects are to be taken into consideration for awarding compensation when the deceased is self-employed person. That difference of opinion has been resolved by the Constitution Bench's decision rendered in the case of National Insurance Co. Ltd vs Pranay Sethi & Ors. , (2017) 16 SCC 680, and that issue is, therefore, no longer alive.

2. As far as the present case is concerned, the deceased viz., H.S. Ravi was aged 46 years and he was engaged in transport business. His income as assessed by the two-Judge Bench of this Court was Rs.2,02,911/-. In terms of the judgment in Pranay Sethi & Ors . ( supra ), twenty five per cent of the income has to be added towards future prospects to the compensation which would come to Rs.50,728/- and thereafter, the income is worked out to Rs.2,53,63 9/-. Ten per cent of the said amount i.e. Rs.25,364/- is deducted towards income tax. Professional tax of Rs.2,400/- and the income from the house property shown to be Rs.20,000/- are also liable to be deducted and after deducting the same, the net amount comes to Rs.2,05,875/-. Deducting 1/4th (one fourth) towards personal expenses which comes out to Rs.51,469/-, the loss of dependency/loss of contribution is arrived at Rs.1,54,406/- per annum. Applying the multiplier of 13, the total loss of dependency is calculated at Rs.20,07,280/-. A sum of Rs.70,000/- has to be added for loss of consortium, f uneral expenses and loss to the estate in terms of the case in Pranay Sethi & Ors . ( Supra ). The award is accordingly modified and enhanced to Rs.20,77,280/- which is rounded off to Rs.20,80,000/-.

3. We also direct that interest at the rate of 9% per annum shall be payable on the aforesaid amount from the date of filing of the claim petition till the date of realisation. The enhanced amount shall be paid to the claimants within three months from today.

4. Needless to say that the amount already paid or deposited shall be adjusted while depositing the enhanced compensation awarded by this Court. It is also made clear that after payment of Rs.1,00,000/- to the father of the deceased, the balance amount of compensation shall be shared equally by the other four claimants.

5. With the aforesaid directions, the appeal is disposed of.