dated

16.10.2023

passed

in

MAC.APP.460/2023, titled as Oriental Insurance Co. Ltd v. Reena

Raghav and Ors., this Court has rejected the similar plea of the

appellant by observing as under:

“11. I have considered the submissions made

by the learned counsels for the parties.

12. In Yad Ram (supra), this Court has opined

that the rate of interest awarded on

compensation payable should be decided on a

case-to-case basis, rather than having a fixed

measure of the same, as what may be

reasonable in one case may not be so in

another.

13. In this case, the accident had taken place

on 07.05.2019, while the Impugned Award

came to be passed on 07.07.2023. The learned

Tribunal in exercising its discretion to

determine the rate of interest placed reliance

on the judgment of the Supreme Court in

Erudhaya Priya v. State Express Transport

Corporation Ltd., 2020 SCC OnLine SC 601,

wherein the Supreme Court had enhanced the

given interest from 7.5% to 9% per annum for

an accident that took place on 16.08.2011,

while the Award was passed on 20.10.2014.

14. Apart from making an oral submission on

the prevailing rate of interest, and that too

from some Google Internet search, the

MAC.APP. 535/2