Praveen Kumar & Anr. vs Reliance General Co. Ltd.
2014 Latest Caselaw 1351 Del

$~37
*    IN THE HIGH COURT OF DELHI AT NEW DELHI

%                Judgment delivered on: 12th March, 2014

+                               CM(M) 251/2014
PRAVEEN KUMAR & ANR.                         ..... Petitioners
                 Represented by: Ms. Bhavna Arora, Adv.

                       versus
RELIANCE GENERAL CO. LTD.                                  ..... Respondent
                 Represented by:                 Ld. Counsel (Appearance not
                 given).


CORAM:
HON'BLE MR. JUSTICE SURESH KAIT

SURESH KAIT, J. (Oral)

1. Vide the present petition, petitioners are seeking direction to release the award amount lying in the form of FDR for a period of five years.

2. Vide award dated 24.05.2013, Ld. Tribunal granted compensation for an amount of Rs.3,75,000/- with interest @ 9% per annum from the date of filing of the DAR till realization.

3. It was further directed that out of the total compensation amount, Rs.10,000/- be paid to the petitioner no. 2, i.e., mother of the deceased through her saving bank account. Remaining amount was directed to be kept in the form of FDR in the joint name of the petitioner nos. 1 & 2 initially for period of five years to be renewed periodically with liberty to

both the petitioners to withdraw the interest through their saving bank accounts.

4. For the same relief, an application was moved before the Ld. Tribunal. Same was dismissed vide order dated 17.09.2013, hence the present petition.

5. It is averred in the petition that the petitioners are literate and well versed in managing their lives and finances and are responsible and capable enough to take the decisions of their lives and finances. Therefore, I am of the considered opinion that there is no danger of the compensation amount being frittered away as both are husband and wife and know pros and cons of their lives and finances.

6. Keeping in view the averments made in the instant petition and submission of the counsel for the petitioner, I direct the Branch Manager, State Bank of India, Tis Hazari Court Branch to release the entire award amount lying in the form of FDR with interest accrued thereon in favour of the petitioners on taking steps by them.

7. In view of above, petition stands allowed.

SURESH KAIT, J MARCH 12, 2014 jg