Accident claim

vimal (Querist) 03 August 2013 This query is : Resolved
THE TRIBUNAL HAS GIVEN DECISION IN OUR FAVOUR IN ACCIDENT CLAIM AGAINST INSURANCE COMAPNY AFTER 12 YEARS.

IN THE DECISION OF THE TRIBUNAL WRITTEN THAT WE CAN GET 8% ON CLAIM AMOUNT
NOW I AM CONFUSED THAT WHETHER WE GETTING 8i SIMPLE INTEREST OR COMPOUNDING INTEREST ?

AND WHETHER WE CAN GO FOR HIGH COURT FOR INDEXATION AND WHAT ARE THE CONSEQUENCES ??

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ajay sethi (Expert) 03 August 2013
it would be simple interest.

Rajendra K Goyal (Expert) 03 August 2013
Interest is simple till specifically mentioned in the decision.

Raj Kumar Makkad (Expert) 03 August 2013
There is no question of confusion. Simple interest is chargeable unless it is specifically mentioned otherwise.

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