Tata Aig General Insurance Co Ltd vs Vijaybhai Mooljibhai Vasava
2021 Latest Caselaw 3715 Guj

         C/FA/1767/2020                                    IA ORDER




           IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

              CIVIL APPLICATION (FOR STAY) NO. 1 of 2020
                   In R/FIRST APPEAL NO. 1767 of 2020
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TATA AIG GENERAL INSURANCE CO LTD Versus VIJAYBHAI MOOLJIBHAI VASAVA ========================================================== Appearance:

for the PETITIONER(s) No. MR RATHIN P RAVAL for the PETITIONER(s) No. MR MOHSIN M HAKIM for the RESPONDENT(s) No. RULE SERVED for the RESPONDENT(s) No. ==========================================================

CORAM: HONOURABLE MR. JUSTICE NIKHIL S. KARIEL

Date : 03/03/2021 IA ORDER

1. Heard learned Advocate Mr. Rathin Raval for the applicant-Insurance Company and learned Advocate Mr. Mohsin Hakim for the opponent Nos.1 and 2 - original claimants.

2. Vide order dated 24.09.2020 the Co-ordinate Bench of this Court (Coram : Ms. Bela M. Trivedi, J) had stayed the impugned judgment and award dated 09.10.2019 passed by the M.A.C. Tribunal (Auxi.), Narmada District at Rajpipla, in MACP No. 91 of 2017 subject to the condition that the applicant-appellant shall deposit the entire awarded amount before the concerned Tribunal within eight weeks from today. The Court has further observed that further order of disbursement / investment shall be passed after the amount is deposited.

3. Learned Advocate Mr. Rathin Raval submits that as per the direction of this Court, the entire awarded amount is deposited with the Tribunal. Considering the same, impugned judgment and award dated 09.10.2019 passed by the M.A.C. Tribunal (Auxi.), Narmada District at Rajpipla, in

C/FA/1767/2020 IA ORDER

MACP No. 91 of 2017 shall remain stayed till final disposal of the First Appeal.

4. Insofar as the disbursement is concerned, considering the peculiar facts of the case it is directed that the learned Tribunal shall disburse 20% of the awarded amount in favour of opponent Nos.1 and 2-original claimants by A/c. Payee Cheque only, after due verification and whereas remaining 80% amount shall be invested in cumulative Fixed Deposit Receipt in any Nationalized Bank initially for a period of 3 years and shall be renewed as and when necessary till final disposal of the Appeal. The original Fixed Deposit Receipt shall be retained with the Nazir of the concerned Tribunal.

5. With the above observations and directions, this application is disposed of.

(NIKHIL S. KARIEL,J) BDSONGARA