Maya Devi & Ors. vs Ravi Kant & Ors.
2012 Latest Caselaw 1833 Del

8
*       IN THE HIGH COURT OF DELHI AT NEW DELHI

                    +      FAO No.330/2001

%                            Date of decision: 16th March, 2012

      MAYA DEVI & ORS.                    ..... Appellants
                    Through : Mr. J.S. Kanwar, Adv.

                  versus

      RAVI KANT & ORS.               ..... Respondents
                    Through : Mr. Harsh Khanna, Adv.
                              Mr. Arvind Pandey and
                              Ms. Rakhi Suneja, Advs. for
                              R-2.
                              Inspector Vijay Pal Singh, I.O.

       CORAM:
       HON'BLE MR. JUSTICE J.R. MIDHA

                        JUDGMENT (ORAL)

FAO NO.330/2001 and CM No.4900/2012

1. The parties have amicably resolved all their disputes and

have filed a joint application bearing CM No.4900/2012 in Court

for recording of the settlement. The application is signed by all

the parties as well as their respective counsels and is

supported by their affidavits. CM No.4900/2012 is taken on

record.

2. As per the said settlement, respondent No.1 has agreed

to pay a sum of `2,25,000/- and respondent No.2 has agreed to

pay a sum of `1,25,000/- to the appellant in full and final

settlement. The aforesaid amount has been agreed to be paid

in installments. The particulars of the installments are given in

para 2 of the application.

3. The settlement between the parties is lawful and is

recorded. Respondents No.1 and 2 undertake to pay the

settlement amount as per the schedule mentioned in para 2 of

the application. The undertaking of the respondents is

accepted. CM No.4900/2012 is allowed.

4. The appellant, Maya Devi is present in Court and she is a

housewife. The appellant is staying with her two married sons.

Considering the status and needs of the appellant, the

settlement amount of `3,50,000/- be disbursed in the following

manner:-

(a) The first installment of `50,000/- by respondent No.1 and

`50,000/- by respondent No.2 be deposited with UCO Bank,

Delhi High Court Branch on 30th April, 2012 by means of a

demand draft in the name of UCO Bank, Delhi High Court

Branch A/c Maya Devi and be handed over to the Mr. M.S. Rao,

AGM, UCO Bank, Delhi High Court Branch for being deposited

in the Savings Bank Account of Maya Devi. The remaining

installments be deposited by respondents No.1 and 2 on the

due dates with Mr. M.S. Rao, AGM, UCO Bank, Delhi High Court

Branch, New Delhi (Mobile No. 09871129345) by means of

demand drafts drawn in the name of UCO Bank A/c Maya Devi.

Upon the aforesaid deposit being made, UCO Bank shall keep

the said amount in fixed deposit in the following manner:-

(i) Fixed deposit for `80,000/- with effect from 15th June,

2012 for a period of one year.

(ii) Fixed deposit for `70,000/- with effect from 14th August,

2012 for a period of two years.

(iii) Fixed deposit for `50,000/- with effect from 15th October,

2012 for a period of three years.

(iv) Fixed deposit for `50,000/- with effect from 15th

December, 2012 for a period of four years.

(b) The interest on the aforesaid fixed deposits shall be paid

monthly by automatic credit of interest in the Saving Account of

the beneficiary.

(c) Withdrawal from the aforesaid account shall be permitted to

the beneficiary after due verification and the Bank shall issue

photo Identity Card to the beneficiary to facilitate identity.

(d) No cheque book be issued to the beneficiary without the

permission of this Court.

(e) The original fixed deposit receipts shall be retained by the

Bank in the safe custody. However, the original Pass Book shall

be given to the beneficiary along with the photocopy of the FDRs.

Upon the expiry of the period of each FDR, the Bank shall

automatically credit the maturity amount in the Savings Account

of the beneficiary.

(f) No loan, advance or withdrawal shall be allowed on the said

fixed deposit receipts without the permission of this Court.

(g) Half yearly statement of account be filed by the Bank in this

Court.

(h) On the request of the beneficiary, Bank shall transfer the

Savings Account to any other branch according to her

convenience.

(i) The beneficiary shall furnish all the relevant documents for

opening of the Saving Bank Account and Fixed Deposit Account

to Mr. M.S. Rao, AGM, UCO Bank, Delhi High Court Branch, New

Delhi (Mobile No. 09871129345).

5. The appeal is disposed of in terms of the above

settlement.

6. List for reporting compliance of the undertaking by

respondents No.1 and 2 on 11th January, 2013.

7. Copy of this order be sent to Mr. M.S. Rao, AGM, UCO Bank,

Delhi High Court Branch, New Delhi (Mobile No.09871129345).

Copy of this order be given dasti to counsel for both the parties.

J.R. MIDHA, J MARCH 16, 2012 aj