The New India Assurance Co. Tld. ... vs Smt. Rakhamabai Rupaji Varye And ...
2021 Latest Caselaw 3085 Bom

                                                                         6-310-2020-CAF=.doc


                         Uday S. Jagtap


                                      IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                              CIVIL APPELLATE JURISDICTION

                                           CIVIL APPLICATION NO. 310 OF 2020
                                                           IN
                                          FIRST APPEAL (ST.) NO. 22886 OF 2019

                         The New India Assurance Co. Ltd.                .. Applicant
                               Vs.
                         Smt. Rekhamabai Rupaji Varye & Ors.             .. Respondents

                                                         .....
                         Ms. Deepika Prabhala i/b Res Juris for the applicant
                         None for the respondents
                                                      CORAM : PRITHVIRAJ K. CHAVAN, J.

DATED : 16th FEBRUARY, 2021 P.C.

1. This is an application seeking stay to the execution and implementation of the judgment and award dated 16 th October, 2018 passed by the Member, M.A.C.T., Khed-Rajgurunagar, Dist. Pune in M.A.C.P. No. 71 of 2014.

2. Heard the learned Counsel for the applicant - insurer, who makes a statement at the bar that entire amount of award with accrued interest will be deposited in M.A.C.T. within a period of four weeks. Statement is accepted.

3. In view of the above statement by the learned Counsel for the applicant, there shall be ad-interim relief in terms of prayer clause (b), subject to deposit of the amount as above.

Digitally

4. After depositing the amount, the applicant shall inform the signed by UDAY UDAY SHIVAJI JAGTAP SHIVAJI Date:

JAGTAP    2021.02.18
          10:13:03
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respondents-claimants about the factum of deposit within one week.

5. If the applicant fails to deposit the entire amount within four weeks, ad-interim relief shall stand vacated without further reference to the Court.

6. The respondents are at liberty to withdraw 50% of the amount that would be deposited by the applicant before the concerned M.A.C.T upon furnishing an undertaking within two weeks that if the appellant succeeds in the appeal, the respondents shall 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 do not file an undertaking within the aforesaid period, the amount that would be deposited by the applicant 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 the respondents, 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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