1. The insurance company is in appeal seeking to assail the judgment dated 19.04.2017 of the Motor Accident Claims Tribunal in accident claim case of the first to third respondents (claimants), it having been registered initially as case no.164/11 (new MACT case no.477652/16) whereby liability has been fastened upon it to pay the compensation thereby awarded.

2. The two short issues raised concern the levy of interest.

3. The Tribunal has directed the insurance company to pay the awarded compensation within a period of 30 days with interest at the rate of 9% p.a. from the date of filing of the detailed accident report (DAR) i.e. 25.02.2011. It further directed that in case of delay, the insurance company would be liable to pay interest at the rate of 12% p.a. “for the period of delay”.

4. The insurance company contends with reference to Tamil Nadu State Transport Corporation Ltd. Vs. S. Rajapriya and Ors., (2005) 2 BLJA 1322 (SC) and another decision of the Supreme Court dated 28.02.2017 in Chikkamma and Anr. Vs. Parvathamma and Anr. in Civil Appeal No. 3409/2017 that only the prevailing banking interest rates should have been invoked and, therefore, the levy of 9% p.a. is e