A Bench of Justice Sanjay Karol and Justice Prashant Kumar Mishra also directed the Insurance Regulatory and Development Authority of India (IRDAI) to increase mandatory third-party insurance period for new private cars from three years to four years and for new two-wheelers from five years to six years.
The Bench issued a slew of directions after finding that nearly 56 per cent of vehicles on Indian roads do not have valid insurance.
The Court said this defeats the very purpose of compulsory motor insurance and leaves accident victims and their families waiting years for compensation.
“It is shocking to learn that nearly 56% of vehicles plying on Indian roads remain uninsured… The consequent effect is that the statutory safeguard of victim compensation is often delayed, if not defeated,” it said.
A Bench of Justice Sanjay Karol and Justice Prashant Kumar Mishra also directed the Insurance Regulatory and Development Authority of India (IRDAI) to increase mandatory third-party insurance period for new private cars from three years to four years and for new two-wheelers from five years to six years.
The Bench issued a slew of directions after finding that nearly 56 per cent of vehicles on Indian roads do not have valid insurance. The Court said this defeats the very purpose of compulsory motor insurance and leaves accident victims and their families waiting years for compensation.
“It is shocking to learn that nearly 56% of vehicles plying on Indian roads remain uninsured… The consequent effect is that the statutory safeguard of victim compensation is often delayed, if not defeated,” it said.
