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Report No. 149

Section 171:

8. For section 171, substitute the following:

"171. Award of interest where claim is allowed.-(1) Where any Tribunal allows a claim for compensation made under this Act, it may direct that, in addition to the amount of compensation, simple interest shall also be paid at a rate of not less than fifteen per cent per annum from the date of the application under section 166 till the date of payment:

Provided that if the Tribunal is satisfied, for reasons to be recorded in writing, that interest at a rate less than fifteen per cent per annum, or interest for a shorter period may be awarded in any particular case, it may direct accordingly.

(2) Without prejudice to the provisions of sub-section (1), the Tribunal may in an appropriate case direct that interest shall be paid at a specified rate if the amount of compensation is paid or deposited within a stipulated period and, in default of such deposit, interest beyond the said period shall be paid at a higher rate."

(Para 11.5)

K.N. Singh, Chairman.

S. Ranganathan, Member.

D.N. Sandanshiv, Member.

P.M. Bakshi, Member (Part-time).

M. Marcus, Member (Part-time).

Ch. Prabhakara Rao, Member-secretary.

Removing certain deficiencies in the Motor Vehicles Act, 1988 Back

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