22-IA-ST-1702-2021.doc
Shailaja
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELLATE JURISDICTION
INTERIM APPLICATION [STAMP] NO.1702 OF 2021
IN
FIRST APPEAL [STAMP] NO.1701 OF 2021
Reliance General Insurance Co. Ltd. ] Applicant
Vs.
Sunil Nathrao Gaikwad and another. ] Respondents
.....
Mr. Suryajeet P. Chavan i/b Mr. Pandit Kasar, for Applicant.
None for Respondents.
.....
CORAM : PRITHVIRAJ K. CHAVAN, J.
DATE : 15th FEBRUARY, 2021.
1. This application is moved seeking stay to the execution, operation and implementation of the Judgment and Award dated 7th November, 2019 passed by learned Member M.A.C.T., Thane in M.A.C.P No.460 of 2016.
2. Heard Mr. Mehta, learned Counsel for the applicant.
3. The learned Counsel, on instructions, makes a statement that the entire amount of Award with accrued interest will be deposited in M.A.C.T, Thane within four weeks from today. Statement is accepted.
Shailaja S. Digitally signed by Shailaja S.
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4. In view of the statement made, there shall be ad-interim relief in terms of prayer clause (a).
5. It is made clear that if the amount as stated above, is not deposited within four weeks from today, ad-interim relief shall stand vacated, without further reference to the Court.
6. After depositing the amount under Award, the applicant shall inform the factum of deposit to respondent No.1-claimant within three weeks.
7. Learned Counsel objects for withdrawal of the amount of compensation by the respondent No.1-claimant.
8. In the interest of justice, respondent No.1-claimant is at liberty to withdraw 50% of the amount that would be deposited by the applicant before the concerned M.A.C.T with accrued interest, upon furnishing an undertaking within two weeks that if the applicant-insurer succeeds in the appeal, he will return the amount with interest at such rate as would be directed by this Court depending upon the outcome of the first appeal.
9. If respondent No.1-claimant does not file an undertaking within the aforesaid period, the amount that would be deposited by the applicant-insurer shall be invested by the M.A.C.T in the fixed deposit of a Nationalized Bank for a period of one year and thereafter for one more year again after obtaining order from this Court.
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10. If 50% amount is withdrawn by respondent No.1-claimant, balance amount shall be invested by the M.A.C.T in a fixed deposit as stated above, in a Nationalized Bank.
11. The application stands disposed of.
[PRITHVIRAJ K. CHAVAN, J.] 3 of 3