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N.V.RAMANA, J
V. KALA BHARATHI & ORS. – Appellant
Versus
THE ORIENTAL INS. CO. LTD., BR. CHITOOR – Respondent
| Table of Content |
|---|
| 1. case background and compensation details. (Para 5 , 6) |
| 2. court's analysis and statutory interpretation. (Para 7 , 8 , 10 , 16 , 17 , 18 , 19 , 20 , 21 , 22 , 23 , 25) |
| 3. arguments presented by appellants and respondents. (Para 9 , 11) |
| 4. ratio regarding appropriation of payments. (Para 24) |
| 5. final ruling and order of the court. (Para 27 , 28) |
N.V.RAMANA, J.
1.The short question to be answered in this appeal is whether the amount deposited by the judgment debtor in a decree is to be adjusted first towards interest or towards principal decretal amount.
2.The facts of the case are – On account of demise of an Engineering Graduate, Mr. V. Raja Kumar on 29.04.1993 in a road accident, his legal heirs, i.e., the appellants herein filed a claim petition being M.V.O.P. 774 of 1993 before the Motor Accident Claims Tribunal (for short, ‘the Tribunal’) claiming -
3.compensation to the tune of Rs.2 crores. The vehicle involved in the said accident was insured by the respondent – Insurance Company. The Tribunal vide its Award dated 29.04.1997 awarded an amount of Rs.98,40,500/- as compensation with interest @ 12% p.a. from the date of the petition, i.e., 25.10.1993 till the date of
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