C/FA/451/2020 IA ORDER DATED: 01/10/2021
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL APPLICATION (FOR STAY) NO. 1 of 2019
In R/FIRST APPEAL NO. 451 of 2020
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FUTURE GENERAL INDIA INSURANCE CO. LTD.
Versus KALPESHBHAI POPATBHAI RATHOD ========================================================== Appearance:
MR GC MAZMUDAR for the PETITIONER(s) No. RULE SERVED for the RESPONDENT(s) No. ========================================================== CORAM:HONOURABLE MR. JUSTICE A.G.URAIZEE Date : 01/10/2021 IA ORDER
1. Heard learned advocate for the Insurance Company and Mr. Parth Kikani, learned advocates for the claimants.
2. Learned advocate for the Insurance Company submits that the entire awarded amount of compensation along with interest and costs is deposited in the Tribunal in compliance of the order of this Court. He, therefore, submits that necessary order for disbursement may be made and remaining amount may be invested in cumulative Fixed Deposit Receipt and stay granted earlier may be confirmed till the final disposal of the appeal.
3. Learned advocate for the claimants confirms that amount of compensation awarded by the learned Tribunal Page 1 of 2 Downloaded on : Mon Oct 11 05:56:23 IST 2021 C/FA/451/2020 IA ORDER DATED: 01/10/2021 is deposited in the Tribunal. He urges that 30% amount may be disbursed in favour of the claimants and remaining 70% amount of compensation may be invested in cumulative fixed deposit receipt in any nationalized bank as urges by learned advocate for the insurance company.
4. Having heard the learned advocates for the respective parties and having considered the facts and circumstances of the case, the learned Tribunal shall disburse 30% of the deposited amount to the claimants and remaining 70% of the deposited amount shall be invested in cumulative FDR in any nationalized bank initially for a period of five years and thereafter renewed the same periodically till final disposal of the appeal.
5. Accordingly, the stay granted earlier of the impugned judgment and award is confirmed till the final disposal of the appeal. Rule is made absolute.
(A.G.URAIZEE, J) SURESH SOLANKI Page 2 of 2 Downloaded on : Mon Oct 11 05:56:23 IST 2021