Life appeared to have been treating Bharuch-based Prakashbhai Vaghela kindly. A B Tech degree holder with an annual package of Rs 31 lakh per annum, Vaghela had been working as a general manager in a private company.
Tragedy struck in 2014 when he was travelling to Vadodara from Ahmedabad airport in a vehicle. Media reports claimed a truck hit the vehicle at the Narol toll plaza leading to his death.
Since his wife, two minor sons, and the parents were dependent on his income, his family put forward a claim of Rs 6.31 crore at the interest rate of 9% from the date of filing of the application to Motor Claims Tribunal.
Following several rounds of negotiations, the insurance company agreed to pay Rs 5.40 crore to the victim’s family.
The Gujarat High Court witnessed the settlement on Saturday. The case was cited as an achievement of the counsellors with IFFCO Tokio General Insurance Company, claimed a report. It found special mention from some 98 cases of motor accident claims settled in the High Court.
The report added that the family sued the car driver, its owner and the insurer for a Rs 6.31 crore death claim at a Motor Accident Claim Tribunal in Bharuch, citing a notional loss based on Vaghela’s income and his age (40).
In 2020, the tribunal awarded only Rs 38.58 lakh to the family. They turned it down and moved HC, which quashed the order and asked the tribunal to decide the issue again.
The tribunal set a compensation at Rs 3.91 crore with 9% interest In April. This time, the insurance company approached the HC, where both the parties agreed on Rs 5.40 crore, following the intervention of senior judges and lawyers.