- (1.) Report No.16 It is stated that the Motor Vehicles (Amendment) Bill, 2017 is presently pending with the Rajya Sabha and it might be taken up for consideration during the current session of Parliament. List the matter on 13th August, 2018. Report No.17 We have perused Report No.17 with the assistance of learned amicus curiae, learned Additional Solicitor General and learned counsel appearing for some of the insurance companies. On 12th July, 2018, we had issued notice to the Insurance Regulatory and Development Authority of India(IRDA). Despite service, no one is present on behalf of IRDA. No Objections have been filed by IRDA to Report No.17. Therefore, we take it that IRDA accepts Report No.17.
(2.) In a meeting held by the Supreme Court Committee on Road Safety held on 26th March, 2018, it is recorded that there are about 18 crore vehicles plying on the road and only about 6 crore vehicles have the mandatory third party cover. In other words, 66% vehicles are running on the road without any third party insurance cover and the victims of accidents including those who have died and their legal representatives are getting compensation because the vehicles are insured.
(3.) To get over this problem being faced, particularly by persons who are legal representatives of victims of fatal road accidents, the Committee had detailed discussions with IRDA, General Insurance Council, Ministry of Road Transport and Highways and Department of Financial Services, Ministry of Finance, Government of India.;