New India Assurance Company Ltd vs Shantilal Bavalal Mer
2021 Latest Caselaw 4985 Guj

                C/FA/306/2021                              ORDER




                IN THEHIGHCOURTOF GUJARATAT AHMEDABAD

                           R/FIRSTAPPEALNO. 306 of 2021

                                     With
                   CIVILAPPLICATION(FORSTAY) NO. 1 of 2020
                        In R/FIRSTAPPEALNO. 306 of 2021
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                       NEWINDIAASSURANCECOMPANYLTD
                                    Versus
                            SHANTILALBAVALALMER
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Appearance:
MRMAULIKJ SHELAT(2500)for the Appellant(s)No. 1
NISHITA BHALODI(9597)for the Defendant(s)No. 1
NOTICESERVED(4)for the Defendant(s)No. 2,3,4
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 CORAM: HONOURABLE MR. JUSTICE NIKHIL S. KARIEL

                                 Date: 01/04/2021

                                   ORALORDER

Order in First Appeal :

Admit

To be placed for final hearing on 5.7.2021. Registry is directed to call for Record and Proceedings from the concerned Court.

Order in Civil Application

Heard learned Advocate Shri Maulik J. Shelat on behalf of the applicants­appellant and learned Advocate Shri Nishit A. Bhalodi for the respondent.

2. Learned Advocate Shri Nishit A. Bhalodi submits that he has

C/FA/306/2021 ORDER

instructions on behalf of respondent no.1 original claimants.

3. Vide order dated 02.02.2021, this Court (Coram Vaibhavi Nanavati,J.), while admitting the First Appeal had stayed the impugned judgment and award on a condition that the applicant­ Insurance company deposited the entire amount of liability with the Tribunal by the returnable date.

4. Learned Advocate Shri Shelat, informs this Court that the said order is complied with.

5. Learned Advocate Shri Bhalodi submits that in view of the deposit of the amount, this Court may pass appropriate orders for disbursement/investment. Considering the same, learned Tribunal shall disburse 30% of the entire deposited amount in favour of respondent no.1 original claimants after due and proper verification. In so far as the remaining 70% of the awarded amount is concerned the same shall be invested in a cumulative fixed deposit in any Nationalised Bank initially for a period of 3 years renewed from time to time till the final disposal of the First Appeal. The Fixed Deposit Receipt shall be kept in the safe custody with the Nazir of the Tribunal.

6. With the above observations and direction, Civil Application is disposed of.

(NIKHILS. KARIEL,J) MARYVADAKKAN