Mumbai Tribunal Awards ₹19.97 Crore To Accident Victim

A significant judgment was passed by the Mumbai Motor Accident Claims Tribunal on July 7, 2026, awarding ₹19.97 crore in compensation to Rasik Bindumadhav Joshi, a 54-year-old resident of Mulund. Joshi, who is the Director (Head of Dealing) at Credit Suisse Securities India Pvt. Ltd., was involved in a road accident on January 2, 2022, while travelling in an auto-rickshaw on L.B.S. Marg.

The accident occurred when the auto-rickshaw driver lost control of the vehicle due to excessive speed and rammed into the rear of a BEST bus near Kamgar Hospital signal at Mulund (West). Joshi sustained grievous injuries, including spinal fractures, paraplegia, brain contusion, aortic rupture, and loss of movement in both lower limbs. He was immediately admitted to Fortis Hospital and later to Jupiter Hospital for further treatment.

The tribunal noted that Joshi spent nearly ₹50 lakh on medical treatment, a special diet, conveyance, and other related expenses. He sought ₹20 crore as compensation for the injuries suffered in the accident. The insurance company, Future Generali India Insurance Company Ltd., contested the claim, arguing that the BEST bus driver was responsible for the accident and that the auto-rickshaw driver did not possess a valid driving licence, permit, or fitness certificate.

However, the tribunal rejected these objections, observing that the insurer had failed to produce evidence to substantiate its allegations. It relied on the FIR, spot panchnama, and other documentary evidence to conclude that the accident occurred due to the rash and negligent driving of the auto-rickshaw driver. The tribunal also noted that Joshi had suffered 82% permanent locomotor disability, which was certified by a government medical board.

A major component of the award was ₹19.17 crore towards loss of future income. The tribunal relied on Joshi's income tax returns and noted that his post-tax annual income was ₹1.93 crore. Since he continued earning for three years after the accident, the tribunal calculated his loss of future income accordingly. The tribunal directed the insurance company to pay the compensation along with 7.5% annual interest from the date of filing of the claim petition until its realisation.

This judgment is significant, as it highlights the importance of ensuring that victims of road accidents receive adequate compensation for their injuries and losses. The award of ₹19.97 crore will help Joshi to cope with the financial burden of his medical treatment and loss of income. The tribunal's decision also serves as a reminder to insurance companies to fulfill their obligations towards policyholders and to take responsibility for the actions of their insured drivers.

The impact of this judgment will be felt by many, particularly those who have been victims of road accidents. It is a reminder that the law is in place to protect the rights of citizens and to ensure that justice is served. The Mumbai Motor Accident Claims Tribunal has set a precedent with this judgment, and it is likely to have far-reaching consequences for insurance companies and policyholders alike.

In conclusion, the Mumbai Motor Accident Claims Tribunal's judgment is a significant victory for Rasik Bindumadhav Joshi and a reminder of the importance of ensuring that victims of road accidents receive adequate compensation. The award of ₹19.97 crore will help Joshi to rebuild his life and to cope with the financial burden of his medical treatment and loss of income. The tribunal's decision is a testament to the effectiveness of the legal system in protecting the rights of citizens and ensuring that justice is served.