( 1 ) IN this Misc. Appeal which arises out of the judgment and award dated 7. 9. 2000 made in M. A. C. Case No. 484 of 1996, the short question as to the correctness of the computation of compensation as awarded by the said Tribunal is involved. ( 2 ) THE Claims Tribunal has come to the finding that the monthly income of the deceased was Rs. 3,500/- per month at the relevant point of time and the said victim was aged 39 years at the time of the accident. Even upon such finding the Claims Tribunal instead of deducting l/3rd of the amount of the said monthly income of the deceased has deducted Rs. 2,500/- from the same on account of his personal expenses and towards the costs of management of his business. The Claims Tribunal in spite of the finding that the victim was aged 39 years on the death of the accident has applied multiplier of 11 instead of 16 in breach of the guidelines as provided in Schedule I to the Motor Vehicles Act, 1988 (hereinafter called as the said Act ). ( 3 ) THE learned Counsel appearing on behalf of the respondent-Insurance companies has not challenged the findings as to the monthly income of the victim and his age as above at the relevant point of time. Since such monthly income was the net profit earned by the victim after necessary deduction of expenses towards management of his business, we are of the view that there is no further scope of making any further deduction on such account. As per schedule I to the said Act, a multiplier of 16 is to be applied in respect of the victim who falls in the age group of 35 to 40 years. We, therefore, hold that the computation of the compensation as made by the Claims Tribunal is wrong. The impugned judgment and award is, therefore, set aside. ( 4 ) IN the original claim petition a total sum of Rs. 3,50,000/- was claimed by the claimants-appellants. The claimants-appellants have filed an application for amendment of the above claim in this Court. We, therefore, hold that the computation of the compensation as made by the Claims Tribunal is wrong. The impugned judgment and award is, therefore, set aside. ( 4 ) IN the original claim petition a total sum of Rs. 3,50,000/- was claimed by the claimants-appellants. The claimants-appellants have filed an application for amendment of the above claim in this Court. Having regard to the facts and circumstances of this case and further by following the principles as laid down by the Supreme Court in the case reported in AIR 2003 SC 674 : 2003 (1) WBLR (SO 774 (Nagappa vs. Gurudayal Singh and Ors.) we allow the above application for amendment. The claim petition shall accordingly be read as one containing a claim for a total sum of Rs. 4,48,000/- on account of the death of the predecessor-in-interest of the claimants-appellants, in the accident. ( 5 ) IN view of the aforesaid findings as to the age and monthly income of the victim, which are not in dispute we determine the compensation as under : on the basis of the monthly income as found by the Claims Tribunal, the annual income would be Rs. 42,000/ -. Upon deduction of 1/3rd of the said amount on account of personal expenses of the victim, had he been alive, the loss of dependency per annum would stand at Rs. 28,000/ -. per annum. A multiplier of 16 should be applied as the victim fell in the age group of 35 to 40 years. The total loss of dependency would therefore stand at Rs. 4,48,000/ -. The claimants-appellants shall further be entitled to a total sum of Rs. 4,500/- on account of funeral expenses and loss of estate. The total amount of compensation would thus be Rs. 4,52,500/ -. Pursuant to the impugned judgment and order, the claimants-appellants have already received a sum of Rs. 1,37,000/ -. The claimants-appellants shall accordingly be entitled to a balance sum of rs. 3,15,500/- which we round off to Rs. 3,16,000/ -. The above sum shall be paid to the claimants-appellants by both the Insurance Companies-respondents namely, New India Assurance Company Ltd. and United India Insurance company Ltd. in equal shares. The above amount will carry an interest at the rate of 9% per annum from the date of filing of the application till the date of payment. Each of the claimants-appellant will accordingly get Rs. The above amount will carry an interest at the rate of 9% per annum from the date of filing of the application till the date of payment. Each of the claimants-appellant will accordingly get Rs. 79,000/- with proportionate interest thereon at the rate as above except that the claimant-appellant No. 1 will get Rs. 84,000/- inclusive of an additional sum of Rs. 5,000/-as being the compensation for the loss of consortium. ( 6 ) THE respondent-Insurance Company shall make payment directly to the claimants-appellants or deposit with the Claims Tribunal within a period of four weeks from date. The shares of the claimant-appellant Nos. 2 and 3 shall be kept in a short terms fixed deposit with any Nationalised Bank which shall be renewed from time to time. The said claimants-appellants shall be entitled to withdraw the same upon attaining majority. The payments as above shall be made to the claimant-appellant Nos. 1 and 4 upon being satisfied that the amounts in the shares of the claimant appellant Nos. 2 and 3 have been invested in the manner as above. ( 7 ) THE appeal is accordingly allowed. ( 8 ) HOWEVER, there will be no order as to costs. Appeal allowed.