introducing Section 163-A so as to provide
for a new predetermined formula for payment of compensation to
road accident victims on the basis ... under:-
“163-A. Special provisions as to payment of compensation on
structured formula basis.—(1) Notwithstanding anything contained
in this Act or in any other
adjudicated upon
and merely 'adequate compensation' on a structured formula
is to be paid thereunder.
The learned counsel would point out that ... amended in the year 1994 in terms whereof a
new pre-determined formula in the form of Section 163-A for
payment of compensation
hereinafter referred to as the Act) as
per the structured formula basis is in addition or in the
alternative to the determination of the compensation ... application under Section 163A of
the Act for interim compensation on structured formula
basis. The Insurance Company- appellant contended that
just'
compensation would unshackle the exercise from any rigid
formula. It must be borne in mind that the multiplier method is
the accepted method ... guidelines for
assessing the loss occasioned to the victims. Under the formula
advocated by Lord Wright in Davies, the loss has to be
ascertained
Agreement does not involve any use of patents, invention, model, design, secret formula
or process or trade mark or similar property. Further, all the rights ... licence in respect of a patent, invention, model, design, secret formula or process
or similar property or any copy-right literary, artistic or scientific work
becomes operative, an establishment
win be governed by the Full Bench Formula and will be liable
to pay bonus only if there be adequate profits ... more
onerous than the liability which had arisen under the Full
Bench Formula prior to the date of the Act. Imposition of
this onerous liability
price levels prevailing in that month and year. (b) A formula for calculation of the price variations that have taken place between the Base level ... using indices published by Governments or Chambers of Commerce periodically. An illustrative formula has been appended to these Rules at Appendix-1 A for guidance
introduced the carry
forward principle and applied the rotational formula. The
officers who had been, with the concurrence of the Union
Public Service Commission, officiating ... 22nd December, 1959 was thus determined by the
application of the rotation formula based on the quota
prevailing at the relevant time. But since
gratuity on page no. 13 the
controlling authority has used the formula taken from the service
regulations 2010 and without using the amount ... concerned bank officer, with comparative calculation on the basis
of for formula prescribed under the provision of the Act 1972 as
well as the formula
employee.
It was originally a voluntary payment. Under the Full Bench
formula, evolved by the Labour Appellate Tribunal with
respect to disputes for payment ... employers. In providing such statutory liability Parliament
has laid down a statutory formula on which bonus would be
savable irrespective of whether the establishment
