Oriental Insurance Co. Ltd. Vs Niru @ Niharika 2025 INSC 822 - Motor Accident Compensation
Motor Accident Compensation Claims - Interest must run from the date of filing of the claim petition, to the date of payment- Merely because, on various dates, for 4 years, the case was posted for the claimants’ evidence, it does not necessarily mean that the claimants were responsible for the delay. Laws delays cannot, without proper substantiation, be cast upon the shoulders of one or other party to the lis. (Para 7)
Motor Accident Compensation Claims - In the 1980’s, Courts were awarding 12% interest which stood reduced to 9% in the 1990’s. With the advent of the 21st century and the economic recession world over, the interest rates fell considerably. But even now the rates offered by National Banks for long term deposits are 7% or more. [SC upheld grant of 9% interest rate noticing the accident having occurred in the year 1995.]
