Judgment :- This Civil Miscellaneous Appeal is filed by the Transport Corporation against the Judgment and Decree made in MCOP No.1292 of 2002 dated 310. 2003 on the file of the I Additional District Judge, Motor Accident Claims Tribunal, Salem. 2. Background facts in a nutshell are as follows:- On 13.08.2002 at about 4.45 p.m., the deceased Mathiyalagan was riding his TVS-50 XL two-wheeler bearing Registration No.TN-30-B-6735 along with his friend Pachamuthu on the mud portion of the road at a place near Kamaneri bus stop in the Omalur to Mechery Main Road. At that time, a bus belonging to the appellant / Transport Corporation bearing Registration No.TN-27-N-1283, driven by its driver at high speed, in a rash and negligent manner, without following the traffic rules, dashed against the two-wheeler. Due to the accident the deceased sustained fatal injuries and died on the spot. The claimants are the wife, two sons, two daughters and the mother of the deceased. They claimed a compensation of Rs.13,75,000/-, but restricted to Rs.5,00,000/- before the Tribunal. The Transport Corporation resisted the claim. On pleading, the following issues were framed by the Tribunal:- a) Whether the accident had occurred due to the rash and negligent driving of the driver of the bus belonging to the appellant / Transport Corporation or not? b) Whether the claimants are entitled for any compensation? If so, what is the amount and from whom? After considering the oral and documentary evidence, the Tribunal was of the view that the accident had occurred due to the rash and negligent driving of the bus belonging to the Transport Corporation and awarded a compensation of Rs.3,59,000/- with interest at 9% p.a. from the date of petition. Aggrieved by the award, the Transport Corporation has filed the present appeal. 3. Learned counsel appearing for the Transport Corporation submitted that the Tribunal is wrong in holding that the accident had occurred due to the rash and negligent driving of the bus belonging to the Transport Corporation. It is also submitted that the award of the Tribunal is excessive and exorbitant, without basis and justification, and that therefore, the order passed by the Tribunal is not in accordance with law and the same has to be set aside. 4. Heard the counsel. On the side of the claimants, witnesses P.W.1 to P.W.3 were examined and documents Ex.P1 to Ex.P7 were marked. 4. Heard the counsel. On the side of the claimants, witnesses P.W.1 to P.W.3 were examined and documents Ex.P1 to Ex.P7 were marked. On the side of the Transport Corporation, one Subramanian was examined as R.W.1 and no documents were marked. P.W.1 is the wife of the deceased. P.W.2 is one Chandrasekaran. Ex.P1 is the photocopy of First Information Report. Ex.P2 is the photocopy of Post Mortem Report of the deceased. Ex.P3 is the certificate relating to the commission received by the deceased. Ex.P4 is the photocopy of the Registration Certificate of Chandra Textiles. Ex.P5 is the photocopy of Income-tax PAN Card of Chandra Textiles. After considering the above oral and documentary evidence, the Tribunal correctly came to the conclusion that the accident had occurred only due to the rash and negligent driving of the bus driver and awarded a compensation of Rs.3,59,000/-with 9% interest p.a. from the date of petition. The details of the compensation are as under:- Rupees Loss of income - 2,70,000/- Transport expenses - 1,000/- Funeral expenses - 3,000/- Loss of consortium - 25,000/- Loss of love and affection - 60,000/- Total 3,59,000/- =========== The deceased was 43 years old at the time of accident. He was hale and healthy and he was a businessman. The claimants stated that the deceased was carrying on saree business and that the deceased used to buy sarees in bulk quantity from the weavers and sell the same to the retail shops. The claimants stated that the deceased was earning Rs.5,000/- per month. P.W.2 is one Chandrasekaran, who is the owner of Chandra Textiles. P.W.2 had also given evidence that the deceased was receiving Rs.5,000/- per month and he has also given Salary Certificate, which is Ex.P3. He also stated that the deceased was employed under the said Chandra Textiles and that the said Chandra Textiles is also an Income-tax assessee and documents Ex.P4-photocopy of the Registration Certificate of Chandra Textiles and Ex.P5-photocopy of Income-tax PAN Card of Chandra Textiles are marked to support the same. But there is no documentary evidence to prove that the deceased was carrying on textile business. Hence the Tribunal was of the view that the deceased would have earned Rs.2,000/-per month. After deducting 1/3rd of the amount towards personal expenses of the deceased, the Tribunal arrived at Rs.1,500/-and determined the annual income at Rs.18,000/-. But there is no documentary evidence to prove that the deceased was carrying on textile business. Hence the Tribunal was of the view that the deceased would have earned Rs.2,000/-per month. After deducting 1/3rd of the amount towards personal expenses of the deceased, the Tribunal arrived at Rs.1,500/-and determined the annual income at Rs.18,000/-. The age of the deceased was 43 years at the time of accident. Hence the Tribunal adopted the multiplier of 15 and computed the loss of income at Rs.2,70,000/-(Rs.18,000/- x 15). The Tribunal has correctly estimated the monthly as well as annual income and adopted the correct multiplier and awarded Rs.2,70,000/- towards loss of income, which is very reasonable and hence the same is confirmed. The Tribunal has awarded a sum of Rs.1,000/- towards transport expenses and Rs.3,000/- towards funeral expenses, which are very reasonable and hence they are confirmed. The Tribunal has awarded Rs.25,000/-towards loss of consortium. Taking into consideration of the age of the widow, viz., 36 years, I feel that the Tribunal is correct in awarding Rs.25,000/- towards loss of consortium and hence the same is confirmed. The Tribunal has awarded a sum of Rs.60,000/- (Rs.15,000/-each to the two sons and two daughters of the deceased) towards loss of love and affection. Taking into consideration the age of the minor children, I feel that the amount awarded towards loss of love and affection is reasonable and hence the same is confirmed. The interest rate fixed by the Tribunal at 9% p.a. from the date of petition is confirmed as the same was the prevailing rate at that time. The findings of the Tribunal are based on valid materials and evidence and I do not find any error or legal infirmity in the order of the Tribunal so as to warrant interference. 5. In view of the foregoing reasons, there is no merit in the appeal and hence the compensation awarded by the Tribunal at Rs.3,59,000/-with interest at 9% p.a. from the date of petition is confirmed. Accordingly, the Civil Miscellaneous Appeal is dismissed. Consequently, C.M.P. No.2931 of 2007 is closed. No costs. 6. The Transport Corporation is directed to deposit Rs.3,59,000/- with interest at 9% p.a. from the date of petition, after adjusting the amount if any, already deposited, within a period of six weeks from the date of receipt of a copy of this order. Accordingly, the Civil Miscellaneous Appeal is dismissed. Consequently, C.M.P. No.2931 of 2007 is closed. No costs. 6. The Transport Corporation is directed to deposit Rs.3,59,000/- with interest at 9% p.a. from the date of petition, after adjusting the amount if any, already deposited, within a period of six weeks from the date of receipt of a copy of this order. Respondents 2 to 5 were aged 14 years, 12 years, 10 years and 8 years old at the time of accident. The date of accident was 13.08.2002 and now, five years have passed after the accident. Hence the 2nd respondent has now attained majority. On making the above deposit by the Transport Corporation, respondents 1, 2 and 6 are permitted to withdraw their entire share. The shares of the minors / respondents 3 to 5, shall be invested in any nationalised bank proximate to the place of the resident of the minors guardian, the first respondent, for a period of three years and renewable thereafter till the minors attain majority. The guardian of the minors, the first respondent, is permitted to withdraw the accrued interest once in three months.