Interest Liability in Cases of Compensation for Road Accidents under Motor Vehicles Act, 1988
In case of S. Vishnu Ganga v. OICL [2025] GCtR 250 (SC), the employees of Oriental Insurance Co. Ltd did not offered the appropriate amounts towards settlement within 30 days of filing of the case. Ultimately, the matter prolonged and Supreme Court has directed the insurance company to pay huge amount of interest at the rate of 7.5% in addition to principal amount of compensation.
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