Multimodal Transportation of Goods Act, 1993

17. Assessment of compensation

(1) Assessment of compensation for loss of ,or damage to, the consignment shall be made with reference to the value of such consignment at the place where, and the time at which, such consignment is delivered to the consignee or at the place and time when, in accordance with the multimodal transport contract, it should have been delivered.

(2) The value of the consignment shall be determined according to the current commodity exchange price, or if there is no such price, according to the current market price, or if the current market price is not ascertainable, with reference to the normal value of a consignment of the same king and quantity.