The Bajaj Allianz General ... vs Hetalben Bharatbhai Maheriya
2021 Latest Caselaw 5949 Guj

     C/FA/2398/2020                                    IA ORDER DATED: 14/06/2021




             IN THE HIGH COURT OF GUJARAT AT AHMEDABAD


CIVIL APPLICATION (FOR WITHDRAWAL/DISBURSEMENT OF AMOUNT)
                           NO. 1 of 2021
                In R/FIRST APPEAL NO. 2398 of 2020
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HETALBEN BHARATBHAI MAHERIYA Versus ASHWIN BHAGWANJIBHAI KACHHADIYA ========================================================== Appearance:

NISHIT A BHALODI for the PETITIONER(s) No. DHARMESH D NANAVATY for the RESPONDENT(s) No. MS KIRTI S PATHAK for the RESPONDENT(s) No. ==========================================================

CORAM:HONOURABLE MR. JUSTICE N.V.ANJARIA

Date : 14/06/2021

IA ORDER Heard learned advocates for the respective parties.

2. By virtue of order dated 3.12.2020 stay was granted against the judgment and award impugned on the condition of deposit of entire awarded amount.

3. It was stated by learned advocate for the applicant insurance company that the amount is deposited.

4. Since the amount is deposited and Appeal would take time to reach its final hearing and decision, the following directions would sub-serve the interest of justice at this stage.

(i) Out of the total amount deposited as above by the applicant insurance company, 70% amount shall be invested by the Tribunal in a fixed deposit with any nationalised bank for initial period of three years, renewable until final disposal of the appeal;

C/FA/2398/2020 IA ORDER DATED: 14/06/2021

(ii) The claimants shall be entitled to receive periodical interest on the invested amount in equal proportion;

(iii) The claimants shall not be entitled to raise any loan or financial assistance on the basis of the invested amount in the fixed deposit the interest from the Fixed Deposit shall accrue and accumulate to be reinvested and shall not be disbursed to the claimants.

(iv) The fixed deposit receipt shall remain in the custody of Nazir of the Tribunal;

(v) The remaining 30% amount of the total amount deposited shall be disbursed to the claimants in equal proportion;

(vi) Before disbursement of the amount, the Tribunal shall verify the identity of the claimants and shall follow the procedure as may be required;

(vii) Disbursement of the amount in favour of the claimants shall be done by issuing Account Payee cheque in the name of the claimants.

5. Civil Application stands disposed in the aforesaid terms.

(N.V.ANJARIA, J) Manshi