National Insurance Co. Ltd vs Pranay Sethi on 31 October, 2017
41. Pertinently, the Hon'ble Apex Court has also held in
National Insurance Company Ltd. Vs. Pranay Sethi (Supra) that
compensation awarded under the conventional heads shall be
enhanced at the rate of 10% in every three years and a period of 6
years since then stands already expired. Hence, the petitioners in
this case are also entitled to an increase @ 10% on the amount
awarded under the conventional head of 'loss of estate', 'funeral
charges' and 'loss of consortium' after expiry of three years and
further 10% after expiry of another three years. The petitioners
are thus awarded a total sum of Rs.2,29,900/- [(Rs.40,000/- +
10% of Rs.40,000/-= Rs. 44,000/- + 10% of Rs. 44,000/- = Rs.
48,400/- X 4 = Rs.1,93,600/-) + (Rs. 30,000/- + 10% of
Rs.30,000/- = Rs.33,000/- + 10% of Rs. 33,000/- = Rs. 36,300/-)]
under this head.