Limit of liability for third party property damage under MV(Amendment)Act 2019.
Motor Vehicle (Amendment) Act 2019 has substituted the Chapter XI of Principle Act i.e. MV ACT 1988. Sec 147 of Amended act provides as follow-
147. (1) In order to comply with the requirements of this Chapter, a policy of insurance must be a policy which—(a) is issued by a person who is an authorised insurer; and (b) insures the person or classes of persons specified in the policy to the extent specified in sub-section (2)—(i) against any liability which may be incurred by him in respect of the death of or bodily injury to any person including owner of the goods or his authorised representative carried in the motor vehicle or damage to any property of a third party caused by or arising out of the use of the motor vehicle in a public place;
As per 147(2) above it covers any liability(means unlimited liability) towards death/bodily injury/any property of third party. It has not restricted the Third Party Property damage as was there in MV ACT 1988 for Rs. 6000/- In view of the above please confirm whether as per new amendment act third party property damage limit is unlimited or not.