Vehicle owner to pay compensation in minor-driven accident, rules Karnataka High Court
Bengaluru: In a recent ruling, the Karnataka High Court has determined that the owner of a vehicle, rather than the insurance company, must pay compensation if a minor is involved in causing an accident. This decision comes following a petition by the New India Assurance Company challenging a previous tribunal judgment.
Justice Hanchate Sanjeev Kumar, presiding over the single-bench, quashed the Motor Vehicle Accident Tribunal's decision that held the insurance company liable for compensating the claimants. The court also increased the compensation amount from Rs 2.56 lakh to Rs 4.44 lakh, with an interest rate of 6% per annum.
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The case stems from a tragic incident on December 12, 2008, when Hassan Shabbir was fatally injured by a two-wheeler driven by a minor on National Highway 17 (now National Highway 66) in Ranginakatta, Bhatkal. Initially, the tribunal had ruled on August 11, 2014, that the family of the deceased—Bibi Naisa and two others from Kundapur taluk, Udupi district—should receive Rs 2.56 lakh in compensation with an 8% annual interest.
The New India Assurance Company contested this ruling, arguing that since the accident was caused by a 16-year-old without a driving license, they were not responsible for compensating the victim's family. They presented the police charge-sheet, which confirmed that a minor, Abdul Hakeem Gawai, was riding the two-wheeler that struck Shabbir.
In its recent judgment, the High Court has placed the responsibility for compensation on Mohammed Mustafa, the vehicle's owner. The court justified increasing the compensation amount due to the victim’s age at the time of the accident (61 years) and the fact that he is survived by his wife and two children.
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Rupee hits record low of 96.14/USD, settles at fresh closing low of 95.86/USD
Mumbai (PTI): The Indian rupee crashed below the 96/USD mark on Friday before closing at an all-time low of 95.86 (provisional) against the US dollar as elevated crude oil prices and inflation concerns added to the downside pressure on the rupee.
Rupee has registered over 6 per cent losses so far this year, and in the past six trading sessions, it has depreciated nearly 2 per cent as Iran war risk escalation pushed crude oil prices higher. The dollar index moved northwards after strong US retail sales and stable labour market data reduced expectations of aggressive Federal Reserve rate cuts.
Forex traders said global uncertainties, relatively high valuations, and the lack of AI-led investment opportunities have weighed on capital flows.
Moreover, weak net FDI inflows are likely to exert pressure on the balance of payments, while rising crude oil prices stoke inflation worries.
At the interbank foreign exchange, the rupee opened at 95.86, then slumped to a record low of 96.14 in intraday trade, registering a fall of 50 paise from its previous close.
The USD/INR pair finally settled at 95.86 (provisional) against the US dollar, registering a fall of 22 paise from its previous close, helped by likely RBI intervention.
On Thursday, the rupee weakened to a fresh record low of 95.96 before closing with a marginal gain of 2 paise at 95.64 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.15, higher by 0.34 per cent.
Brent crude, the global oil benchmark, was trading up 3.14 per cent at USD 109.04 per barrel in futures trade.
On the domestic equity market front, Sensex fell 160.73 points to settle at 75,237.99, while Nifty declined 46.10 points to 23,643.50.
Foreign Institutional Investors turned net buyers, purchasing equities worth Rs 187.46 crore on Thursday, according to exchange data.
Meanwhile, the country's exports in April rose by 13.78 per cent to USD 43.56 billion despite global challenges, Commerce Secretary Rajesh Agrawal said on Friday.
Imports grew 10 per cent year-on-year to USD 71.94 billion in April. The trade deficit during the month stood at USD 28.38 billion.
"We expect the rupee to trade with a negative bias on elevated crude oil prices and inflation concerns. Strong dollar and FII outflows may also weigh on the rupee. However, any intervention by the RBI and hiking of import duty on gold and silver may support the rupee at lower levels. USD-INR spot price is expected to trade in a range of 95.60 to 96.20," said Anuj Choudhary, Research analyst at Mirae Asset ShareKhan.
Chinese President Xi Jinping and his US counterpart Donald Trump on Friday hailed their talks as "historic" and "landmark", as the American leader wrapped up his three-day visit on a high note, but no deals on any contentious issues were announced.
Both Presidents, who held several rounds of talks covering a range of global issues, including the Iran war and bilateral trade frictions, concluded their discussions with a private meeting at Zhongnanhai, the well-guarded compound in Beijing where top leaders reside.
