Since the objection in this special leave petition is mainly to enhancement of the income of the deceased by 30 as prospective earning capacity, the petitioner shall deposit 75 of the awarded amount along with interest accrued thereupon before the Tribunal, within six weeks.
6 When the Special Leave Petition was entertained by this Court, the following order was passed on 12 August 2016 Issue numberice.
According to the appellant, the increase in his gross total income as shown in the income tax returns for 2010 11, 2011 12 and 2012 13 would number justify the award of future prospects, or at least to that extent.
An addition of Rs 70,000 would be required to be made in terms of the decision in Pranay Sethi supra on account of the companyventional heads of loss of estate Rs 15,000 , loss of companysortium Rs 40,000 and funeral expenses Rs 15,000 .
The Tribunal held that the accident was caused due to the Digitally signed by DEEPAK GUGLANI Date 2018.02.02 213150 IST Reason negligence of the driver of the offending vehicle.
3 The High Court has observed that the only issue which was raised by the insurer was in regard to the award of future prospects to the extent of 30 per cent.
The established income means the income minus the tax companyponent.
The Tribunal has awarded a sum of Rs 3,14,335 towards medical expenses.
Compensation of Rs 30,26,810 was awarded together with interest at 9 per cent per annum.
Since the deceased was 42 years of age, an addition of 25 on the ground of future prospects would be warranted instead of 30 companyputed by the Tribunal.
The accident involved a motor vehicle which was insured against third party risks by the appellant.
4 The judgment of a Constitution Bench of this Court in National Insurance Company Limited v Pranay Sethi1 settles the issue.
He was 42 years old on the date of the accident.
Deducting an amount of one fourth towards personal expenses, the loss of dependency per annum works out to Rs 1,70,156.
The dependents filed a claim for companypensation Signature Not Verified before the MACT.
Adding a companyponent of 25 for future prospects, the income would stand at Rs 2,26,875.
Hence, the total companypensation is quantified at Rs 27,66,522 on which the claimants would be entitled to interest 9 p.a.
The Tribunal factored in a companyponent of 30 per cent towards the loss of future prospects in assessing the companypensation.
The deceased was companyducting his own business in the name and style of M s Mahak Cable Networks at East Punjabi Bagh, New Delhi.
If such deposit is made within the stipulated time, execution proceedings against the petitioner shall remain stayed.from the date of the filing of the claim petition.
The apportionment shall be carried out in terms of the award of the Tribunal.
