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TMI Blog2022 (2) TMI 348X X X X Extracts X X X X X X X X Extracts X X X X ..... to increase the level of the funds which at present is specified at ₹ 20,00,000/- in 1982. This would logically require the amendment of the statutory rules. We expect the learned ASG to get back on this issue and since we had provided a dead line of three months which expires on 15.02.2022 we would like to examine this aspect alone at an earlier date. We are not inclined to implead the two applicants as a party but have taken note of their concern and dispose of the applications with liberty to the counsel to assist us in this behalf. Amicus curiae expressing some difficulties arising from directions given for maintenance of Savings Bank Accounts instead of current accounts - In view of the inevitable time lag between deposit of the award and actual disbursement, it is stated that accrued interest arising in savings Bank Accounts (something which we intended to benefit the claimants), there appears to be a stated problem in coordinating the exact accrued interest amounts with the claims and it is submitted that the total accrued interest in 328 MACTs in the State of Tamil Nadu and Puducherry is more than ₹ 40 crores. This fund is thus stated to be just lying in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... seph Cyriac, Adv. Ms. Uditha Chakravarthy, Adv. Mr. Raj Kamal, AOR Mr. V. N. Raghupathy, AOR Mr. Md. Apzal Ansari, Adv. Mr. G. Prakash, AOR Mr. Mukul Singh, DAG Mr. Pashupathi Nath Razdan, AOR Mr. Prakhar Srivastav, Adv. Ms. Sneh Bairwa, Adv. Mr. Aakash Sinha, Adv. Mr. Rahul Chitnis, Adv. Mr. Sachin Patil, AOR Mr. Aaditya A. Pande, Adv. Mr. Geo Joseph, Adv. Ms. Shwetal Shepal, Adv. Mr. Pukhrambam Ramesh Kumar, AOR Ms. Anupama Ngangom, Adv. Mr. Karun Sharma, Adv. Mr. Avijit Mani Tripathi, AOR Ms. Tarini K. Nayak, Adv. Ms. P.S. Negi, Adv. Mr. Daniel Lyngdoh, Adv. Mr. Siddhesh Kotwal, Adv. Ms. Ana Upadhyay, Adv. Ms. Manya Hasija, Adv. Ms. Pragya Barsaiyan, Adv. Mr. Akash Singh, Adv. Mr. Nirnimesh Dube, AOR Ms. K. Enatoli Sema, AOR Ms. Chubalemla Chang, Adv. Mr. Som Raj Choudhury, AOR Mr. Milind Kumar, AOR Mr. Sameer Abhyankar, AOR Dr. Joseph Aristotle S., AOR Ms. Preeti Singh, Adv. Ms. Nupur Sharma, Adv. Mr. Sanjeev Kumar Mahara, Adv. Mr. S. Udaya Kumar Sagar, AOR Ms. Sweena Nair, Adv. Mr. P. Mohith Rao, Adv. Mr. Shuvodeep Roy, AOR Mr. Ishaan Borthakur, Adv. Mr. Shuvodeep Roy, AOR Mr. Kabir Shankar Bose, Adv. Mr. Ishaan Borthakur, Adv. Mr. Pradeep Misra, AOR Mr. Suraj Singh, Adv. Mr. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (TDS) in Motor Accident Claims at two different rates from 10% to 20%. Learned ASG points out that uniform system is being brought in place whereby TDS will be uniformly 10% for all categories. Mr. Vijayaraghavan, learned Amicus Curiae assisting us points out that there are large amounts of TDS deducted at source where the claimants are not fully aware how to obtain that amount. This may be arising on account of the fact that a number of such claimants may not even be assessees as they come from different economic strata of the society. Mr. Vijayaraghavan, learned Amicus Curiae points out that amounts in this behalf may be running into hundreds of crores. We thus call upon learned ASG to look into this aspect and work out a system whereby this problem can be dealt with. A suggestion made by learned Amicus Curiae is that where TDS is applied as per Section 194-A of the Income Tax Act, 1961, the insurance companies/transport corporations/others should file the statutory Form 16-A immediately upon filing the returns of the TDS to the Income Tax Department and the MACTs. should endeavour to handover to the claimants/counsel on proper acknowledgment, the forms to facilitate sp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counsel who also assists us in this matter submits that as per international practices there is a Chief Technical Officer who helps in sorting out the issues on behalf of insurance companies in different countries and he would understand the technical nuances. He suggests that there should be one Chief Technical Officer to deal with these issues on behalf of all the insurance companies, a suggestion which Mr. Nanda accepts. We thus direct that such a Chief Technical Officer be appointed by the GIC on behalf of all insurance companies within a period of two weeks from today as accepted by Mr. Nanda. We may notice the submission of learned counsel for the petitioner Bajaj Allianz General Insurance Company Private Ltd. that they have such a technical officer whose services can be made available. However, that is a call which the GIC will take. (4) FUND POOL FOR NON INSURED STATE VEHICLES Our direction (viii) dealt with the aspect of the State vehicle not being insured and as a sequitur thereof compensation not being deposited in time as there is lack of sufficient funds to cover the requirement of disbursement of compensation. In this behalf we had issued some necessary d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tated problem in coordinating the exact accrued interest amounts with the claims and it is submitted that the total accrued interest in 328 MACTs in the State of Tamil Nadu and Puducherry is more than ₹ 40 crores. This fund is thus stated to be just lying in the account which is not disbursed and there is lack of proper identification as to whom the amount should be disbursed. Misuse of these amounts has come to light to the extent of 1.5 crores and 33 lakhs in two MACT courts and the matter as stated above is being investigated under the supervision of the Maras High Court. On the reading of the aforesaid suggestion it thus appears that the MACT Court seems to be seeking to wash their hands off because of the amounts being deposited in the Courts. That itself cannot require a change of direction as responsibilities have to be performed. However, the alternative suggestion made is that if the amounts can be kept in a current account but with general directions that they should be placed in FDR initially for 91 days to be kept renewed (practice followed in many Courts), it will be easier to identify the interest with the claimants amount. This is an aspect which will be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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