SC permits LMV driving licence holders to drive transport vehicles with weight up to 7,500 kg
New Delhi (PTI): In a relief for commercial vehicle drivers, the Supreme Court on Wednesday held that a person holding a driving licence for a light motor vehicle (LMV) is also entitled to drive a transport vehicle with an unladen weight not exceeding 7,500 kg.
The judgement of a five-judge Constitution bench headed by Chief Justice D Y Chandrachud is a jolt to insurance companies which had been rejecting claims if accidents involved transport vehicles of a particular weight and if the drivers were not authorised to drive them as per legal stipulation.
“There is no empirical data that LMV driving licence holders are responsible for rise in road accidents in the country,” Justice Hrishikesh Roy, who wrote the unanimous verdict for the bench, said.
He said the LMV driving licence holders, who spent maximum time behind the wheels, are seeking an answer from the court and their grievances cannot be rejected on technical grounds.
Besides the CJI and Justice Roy, the bench also comprised Justices P S Narasimha, Pankaj Mithal and Manoj Misra.
The bench had reserved its verdict on August 21 on the vexatious legal issue after Attorney General R Venkataramani, appearing for the Centre, had submitted that the consultations to amend the Motor Vehicles (MV) Act, 1988 are "almost complete".
The top court asked the Centre to complete the exercise of amending the law at the earliest.
The legal question, which was answered by the bench, was whether a person holding a driving licence for a light motor vehicle (LMV) is also entitled to drive a transport vehicle with an unladen weight not exceeding 7,500 kg.
The issue has given rise to various disputes over payment of claims by insurance companies in accident cases involving transport vehicles being driven by those possessing licences to drive LMVs.
The insurance firms have been alleging that the motor accident claim tribunals (MACTs) and the courts have been passing orders asking them to pay insurance claims, disregarding their objections with regard to the LMV driving licence.
The courts have been adopting a pro-insured approach while deciding insurance claim disputes, the insurance firms had said.
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Rupee falls 28 paise to 94.77 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 28 paise to 94.77 against the US dollar in early trade on Thursday as market sentiment took a dramatic turn after reports emerged that the US and Iran are discussing a 14-point Memorandum of Understanding (MOU) aimed at reducing tensions and reopening negotiations.
Forex traders said Brent oil prices, which had fallen to USD 98 on the US-Iran peace deal, edged slightly higher to USD 101 per barrel after investors weighed the prospects for a Middle East peace deal.
Moreover, factors such as unabated foreign capital outflows amid rising geopolitical uncertainties further dented investor sentiment.
At the interbank foreign exchange market, the rupee opened at 94.77 against the US dollar, registering a fall of 28 paise over its previous close.
On Wednesday, the rupee appreciated 69 paise to close at 94.49 against the US dollar.
"Markets are currently focused on the critical 48-hour window during which the US expects Tehran’s formal response through Pakistani mediators," said CR Forex Advisors MD Amit Pabari.
US President Donald Trump on Wednesday threatened Iran with more bombing if it doesn't reopen the Strait of Hormuz, amid a report that the warring sides were nearing an agreement to end the war.
US media outlet Axios reported, quoting US officials and two other sources, that the US and Iran were getting close to a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations.
The US expects Iranian responses on several key points over the next 48 hours, Axios reported, adding that nothing has been agreed yet. This was the closest the parties had been to an agreement since the war began.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.01, down 0.01 per cent.
Brent crude, the global oil benchmark, was trading higher by 0.65 per cent at USD 101.83 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex declined 160.24 points to 77,798.28 in early trade, while the Nifty was down 30.25 points to 24,300.70.
Foreign Institutional Investors offloaded equities worth Rs 5,834.90 crore on Wednesday, according to exchange data.
On the domestic macroeconomic front, the country's goods and services exports rose 4.6 per cent to an all-time high of USD 863.11 billion during 2025-26, up from USD 825.26 billion in 2024-25, despite global economic uncertainties, according to revised commerce ministry data.
Merchandise exports grew 0.93 per cent to USD 441.78 billion in the last fiscal year from USD 437.70 billion in 2024-25, the data showed.
