National Insurance Co. Ltd.Thr. ... vs Smt. Veena Shrikant Barskar And ...
2021 Latest Caselaw 2339 Bom

                                                                    10-IA-ST-1692-2021.doc


              Shailaja
                           IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                   CIVIL APPELLATE JURISDICTION
                           INTERIM APPLICATION [STAMP] NO.1692 OF 2021
                                                IN
                               FIRST APPEAL [STAMP] NO.1690 OF 2021


              National Insurance Co. Ltd.             ]    Applicant
                         Vs.
              Veena Shrikant Barskar and others. ]         Respondents
                                              .....
              Mr. Amol Gatne, for Applicant/Appellant.

              None for Respondents.
                                                   .....
                                                 CORAM : PRITHVIRAJ K. CHAVAN, J.

DATE : 4th FEBRUARY. 2021.

P.C.

1. This praecipie is moved for seeking urgent circulation on the ground that there is likelihood of execution of the impugned Judgment and Award dated 27th February, 2020 passed in M.A.C.P No. 2782 of 2012 by the Member, M.A.C.T, Mumbai, inter alia, in order to curtail further interest compounding.

2. Heard learned Counsel for the applicant.

3. Learned Counsel for the applicant makes a statement that the entire decretal amount with interest shall be deposited in M.A.C.T within four weeks from today. Statement is accepted.

4. In view of the statement made, there shall be ad-interim relief in terms of prayer clause (a). If the applicant fails to deposit

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Halkude Halkude Date: 2021.02.05 11:57:23 +0530 10-IA-ST-1692-2021.doc

the amount as stated above, ad-interim relief shall stand vacated, without further reference to the Court.

5. After depositing the amount, the applicant shall inform the respondents-claimants about the factum of deposit within one week.

6. Respondents No.1 to 3 are permitted to withdraw 50% of the amount deposited by the applicant-insurer before the concerned M.A.C.T upon furnishing an undertaking within two weeks that if the applicant-insurer succeeds in the appeal, they will return the amount with interest at such rate as would be directed by this Court, depending upon the outcome of the first appeal.

7. If respondents No.1 to 3 do not file an undertaking within the aforesaid period, the amount 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.

8. If 50% amount is withdrawn by respondents No.1 to 3, balance amount shall be invested by the M.A.C.T in a fixed deposit as stated above, in a Nationalized Bank.

9. The application stands disposed of.

[PRITHVIRAJ K. CHAVAN, J.]

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