Iffco-Tokio General Insurance ... vs Chandrakant Dattatraya Kulkarni
2021 Latest Caselaw 3290 Bom

                                                                       15-355-2021-IA-Stay=.doc


                       Uday S. Jagtap


                                    IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                            CIVIL APPELLATE JURISDICTION

                                        INTERIM APPLICATION NO. 355 OF 2021
                                                          IN
                                         FIRST APPEAL (ST.) NO. 99064 OF 2020

                       IFFCO-TOKIO General Insurance Co. Ltd.          .. Applicant
                            Vs.
                       Chandrakant Dattatraya Kulkarni & Ors.          .. Respondents

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

DATED : 22nd FEBRUARY, 2021 P.C.

1. This is an application for staying the execution and implementation of the judgment and award dated 3 rd September, 2019 passed by the M.A.C.T, Pune in M.A.C.P. No. 423 of 2016.

2. Heard Ms. Prabhala, learned Counsel for the applicant. She contends that the appellant has a good case on merits. She undertakes to deposit the entire amount of compensation with accrued interest within a period of four weeks from today. 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.

4. After depositing the amount, the applicant shall inform the Digitally

UDAY signed by UDAY SHIVAJI respondents-claimants about the factum of deposit within one SHIVAJI JAGTAP Date:

JAGTAP    2021.02.24
          12:52:54
          +0530



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                                                  15-355-2021-IA-Stay=.doc


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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