Lokhandwala Builders Private Limited Vs. Union of India (Uoi) and ors. - Court Judgment

Excerpt:
- motor vehicles act (59 of 1988)section 168: [dr.arijit pasayat & asok kumar ganguly,jj] compensation - multiplier method held, it involves ascertainment of loss of dependency or multiplicand. choice of multiplier is determined by age of deceased and by calculation as to what capital sum would yield the multiplicand by way of annual interest. section 168: [dr.arijit pasayat & asok kumar ganguly,jj] compensation determination - deceased riding scooter died in accident with bus - he was aged 43 years and earning rs. 12000/-p.m. as contractor applying multiplier of 10 and making 1/3rd deduction claimants would be entitled to compensation of rs.2,40,000/- with interest @ 6% p.a. section 168 :[dr.arijit pasayat & asok kumar ganguly,jj] compensation multiplier method held, the multiplier method involves the ascertainment of the loss of dependency or the multiplicand having regard to the circumstances of the case and capitalising the multiplicand by an appropriate multiplier. the choice of the multiplier is determined by the age of the deceased (or that of the claimants whichever is higher) and by the calculation as to what capital sum, if invested at a rate of interest appropriate to a stable economy, would yield the multiplicand by way of annual interest. in ascertaining this, regard should also be had to the fact that ultimately the capital sum should also be consumed up over the period for which the dependency is expected to last. deceased aged 43 years at time of accident and was hawker. multiplier of 10 and rate of interest @ 6% p.a. would be appropriate and not multiplier of 15 and interest rate @ 9% p.a. fixed by high court. compensation was determined at rs.2,00,000/- with interest at 6% p.a. 1. leave granted.2. the appeal is disposed of with no order as to costs.3. leave granted.4. with consent of the parties the matter is taken up for final hearing.5. having heard learned counsel for the parties we direct the registrar of companies to hear and decide application (annexure p-5 to the special leave petition of the paper book) in accordance with law uninfluenced by the observations made by the high court in the impugned order. the registrar of companies will also take into account the effect of the letter dated 30th july, 2008 addressed by respondent no. 3 herein. it is made clear that the decision of the registrar of companies will not impact the rights of the parties in the pending passing off action.6. accordingly, the appeal is disposed of with no order as to costs.