Continue to LawRato.com with Google


MACT compensation award details in case of 9% per annum interest

my question is in a MACT compensation award judgement , if a judge gave award of 20 lakhs of compensation with 9% interest per annum from the date of filing till deposit means how much amount the deceased family will get if the case was about 4 years duration???

Answers (3)

sir, the calculation would follow as;

20,00,000/- X 9% for number of days calculated from the date of filing till the date of deposit is made ( the days for which the petition was dismissed for default will be excluded)..... i will be able to say the accurate calculation if the date of Petition filed and the date of deposit made and the Dismissed for default period is known.

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

The deceased family will get rs. 2720000 along with the award amount together with the interest amount. If the period extends then the interest will also increase. Usually the interest will be awarded from the date of filing of the petition till the date of realisation

Popular Motor Accident Lawyers

Advocate Harish Malhotra
District Court, Gurgaon
21 years Experience
Advocate Jaspreet Singh Rai
Greater Kailash 1, Delhi
15 years Experience
Advocate Sudershani Ray
Kailash Hills, Delhi
11 years Experience
Advocate J. P. Rinwa
Swej Farm, Sodala, Jaipur
17 years Experience

Assuming the Interest is Simple Interest.
9% Interest on 20Lakh For one year is Rs 1,80,000 ( Rupees One Lakh Eighty Thousand) For Four Years The interest sums up to Rs. 7,20,000 (Rupees Seven Lakh Twenty Thousand).

"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Divorce Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.

Similar questions

I have sold my bike to a know 5 years back. Received Court Summons that vehicle is still registered in my name, to come and appear. Unfortunately, Im …

Read More

Hello ...can you please help me ..i wants to know ..What should i do .. On 31st dec,2017 ,new year night some guys hit my car by a bike and they assur…

Read More

We met an accident on 12.08.2017 near Belgaum, Karnataka on our way to Goa. A passenger vehicle coming from opposite direction hit our car. Our car wa…

Read More

Hi my name is deepak i have a problem. Actually last week we were 4 friends drinking together and after some time on of my friend said he wants to go …

Read More

Get free assistance for your legal issue