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Judgment
The only issue involved in this appeal is whether the claimants are entitled to enhanced compensation by taking into consideration the future prospects of the deceased.
The High Court rejected the contention of the claimants and awarded compensation only on the actual income without taking into consideration the future prospects.
The undisputed facts are that the deceased was aged about 35 years and was working as a Contractor. He was self-employed. His annual income was assessed to be Rs.1,50,000/-.
In terms of the judgment rendered by this Court in the case of National Insurance Co. Ltd vs Pranay Sethi & Ors. - (2017) 16 SCC 680, forty per cent has to be added towards the future prospects to his income keeping in view the age of the deceased and the fact that he was self-employed. Adding an amount of Rs.60,000/- towards future prospects, the annual income comes to Rs.2,10,000/-. Out of this, 1/4th i.e. Rs.52,500/- is deducted for his personal expenses. The annual loss of dependency is Rs.1,57,500/-. Applying multiplier of 16, the loss of dependency works out to Rs.25,20,000/-. The loss of estate, loss of consortium and funeral expenses should be Rs.15,000/-, Rs.40,000/- and Rs.15,000/- respectively. The total enhanced compensation amount comes to Rs.25,90,000/-. The award is accordingly modified and the compensation is enhanced to Rs.25,90,000/-.
We also direct that interest at the rate of 9% per annum shall be payable on the aforesaid amount from the date of filing of the claim petition till the date of realisation.
Needless to say that any amount already paid or deposited shall be adjusted while depositing the enhanced compensation awarded by this Court. The enhanced amount shall be paid to the claimants within three months from today.
With the aforesaid directions, the appeal is disposed of.