Mala Ashok Khetwani vs New India Assurance Co.Ltd. And ...
2021 Latest Caselaw 4117 Bom

                                                                        1-1099-2019-IA=.doc


                       Uday S. Jagtap


                                    IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                            CIVIL APPELLATE JURISDICTION

                                        INTERIM APPLICATION NO. 1099 OF 2019
                                                          IN
                                         FIRST APPEAL (ST.) NO. 33954 OF 2017

                       Smt. Mala Ashok Khetwani                         .. Applicant
                            In the matter between
                       The New India Assurance Co. Ltd.                 .. Appellant
                            Vs.
                       Smt. Mala Ashok Khetwani & Anr.                  .. Respondents

                                                        .....
                       Mr. Nitesh V. Bhutekar a/w Ms. Ayodhya Patki for the applicant
                       Mr. D.S. Joshi for the appellant

                                                      CORAM : PRITHVIRAJ K. CHAVAN, J.

DATED : 5th MARCH, 2021 P.C.

1. By this application, the applicant seeks to withdraw the amount of compensation with accrued interest deposited by the appellant - insurer in M.A.C.T., Mumbai.

2. The M.A.C.T., Mumbai by a judgment and award dated 9th March, 2017 passed in Claim Application No. 2564 of 2009 awarded compensation of Rs. 47,31,000/- with interest at the rate of 9% p.a. to the claimant from the date of filing of the application till its realization.

3. The reasons for withdrawal of the amount of compensation are stated in paragraph 5 of the application.

          Digitally
          signed by
          UDAY
UDAY      SHIVAJI
SHIVAJI   JAGTAP
          Date:
JAGTAP    2021.03.08
          17:44:02
          +0530
                                                                                          1 of 2
                                                  1-1099-2019-IA=.doc

4. Mr. Joshi, the learned Counsel for the appellant - insurer objects the prayer of the applicants.

5. However, considering the reasons, at this stage, the applicant is permitted to withdraw 50% of the amount of compensation with accrued interest. The applicant shall furnish an undertaking within two weeks that if the appellant - insurer succeeds in appeal, the applicant shall refund the amount with interest at such rate as would be directed by this Court, depending upon the outcome of the first appeal.

6. If the applicant does not file an undertaking within the aforesaid period, the amount deposited by the appellant - insurer 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.

7. If 50% amount is withdrawn by the applicant, balance amount shall be invested by the M.A.C.T in a fixed deposit as stated above, in a Nationalized Bank.

8. The application stands disposed of.

(PRITHVIRAJ K. CHAVAN, J.)

2 of 2