https://www.taxtmi.com/caselaws?id=182770 Under section 171 of the Motor Vehicles Act, 1988, the Claims Tribunal may award simple interest on compensation at a rate not fixed by statute. The appropriate rate depends on the facts and circumstances of the case and is ordinarily guided by the prevailing bank rate at the relevant time. Applying that principle, the Court treated 7.5% per annum as appropriate in place of 6% per annum, effective from the date of application until payment. en-us Mon, 12 May 2008 00:00:00 +0530 Thu, 19 May 2016 12:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182770 Under section 171 of the Motor Vehicles Act, 1988, the Claims Tribunal may award simple interest on compensation at a rate not fixed by statute. The appropriate rate depends on the facts and circumstances of the case and is ordinarily guided by the prevailing bank rate at the relevant time. Applying that principle, the Court treated 7.5% per annum as appropriate in place of 6% per annum, effective from the date of application until payment. Case-Laws Indian Laws Mon, 12 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182770