B.B.MANGALMURTI,J. - (1.) Heard learned counsel for the appellant as well as learned counsels appearing on behalf of the respondent nos.1-4 and respondent nos.5 and 6.
(2.) Instant appeal has been filed against the Award dated 4th February, 2016 passed in T.M.V. No.40 of 2011 by Sri Ravi Shanker Upadhyay, District Judge-IV-cum-M.A.C.T., Bokaro allowing the claims and awarded a sum of Rs.15,85,000/- with 10% per annum interest from the date of filing till the date of payment after deducting Rs.50,000/- if paid earlier under Section 140 of the M.V. Act.
(3.) During course of argument learned counsel for the appellant submitted that he is confining his argument only towards the quantum of compensation as the learned Tribunal has assessed more amount towards certain heads which the claimants are not entitled as per the recent judgment of Hon'ble the Supreme Court. The Hon'ble Supreme Court in the cases of National Insurance Company Limited Versus Pranay Sethi and Ors. reported in AIR 2017 (SC) 5157 and Dharampal and Ors. Versus U.P. State Road Transport Corpn. reported in AIR 2008 SC 2312 has held that the rate of interest would depend upon the bank rate prevailing at the relevant time, therefore, the Tribunal has awarded the interest rate much higher to the prevailing bank rate.;