Bharti Axa Insurance Company ... vs Smt. Shankuntala Shivaji Shinde ...
2021 Latest Caselaw 3580 Bom

                                                                           17-3558-2019-CAF-stay=.doc


                       Uday S. Jagtap


                                    IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                            CIVIL APPELLATE JURISDICTION

                                         CIVIL APPLICATION NO. 3558 OF 2019
                                                          IN
                                         FIRST APPEAL (ST.) NO. 18241 OF 2019

                       Bharti Axa Insurance Co. Ltd.                       .. Applicant
                             Vs.
                       Smt. Shakuntla Shivaji Shinde & Ors.                .. Respondents

                                                       .....
                       Mr. Nikhil Mehta i/b KMC Legal Venture for the applicant
                       None for the respondents
                                                   CORAM : PRITHVIRAJ K. CHAVAN, J.

DATED : 25th FEBRUARY, 2021 P.C.

1. This is an application for staying the execution of the judgment and award dated 26th March, 2018 passed by the M.A.C.T., Nashik in M.A.C.P. No. 499 of 2013.

2. Heard Mr. Mehta for the applicant - insurer. He submits that the amount of compensation with accrued interest will be deposited in M.A.C.T., Nashik within a period of four weeks from today. Statement is accepted.

3. In view of the statement made, there shall be ad-interim relief in terms of prayer clause (a) of the application, subject to deposit of the amount as above.

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

Digitally reference to the Court.

          signed by
          UDAY
UDAY      SHIVAJI
SHIVAJI   JAGTAP
          Date:
JAGTAP    2021.03.01

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

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 a fixed deposit in any 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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