Hdfc Ergo General Insurance ... vs Tarunkumar Lalgibhai Raval
2021 Latest Caselaw 17269 Guj

      C/FA/1706/2020                                         IA ORDER DATED: 16/11/2021




             IN THE HIGH COURT OF GUJARAT AT AHMEDABAD


CIVIL APPLICATION (FOR WITHDRAWAL/DISBURSEMENT OF AMOUNT)
                           NO. 1 of 2021
                In R/FIRST APPEAL NO. 1706 of 2020
==========================================================

DHARMENDRASINH VIKRAMSINH CHUDASMA Versus TARUNKUMAR LALGIBHAI RAVAL ========================================================== Appearance:

MR.KARNA H DHOMSE for the APPLICANT(s) No. MR VIBHUTI NANAVATI for the RESPONDENT(s) No. MR ZUBIN F BHARDA for the RESPONDENT(s) No. ========================================================== CORAM:HONOURABLE MR. JUSTICE VIPUL M. PANCHOLI Date : 16/11/2021 IA ORDER

1. This application has been filed by the claimants wherein the applicants - claimants have prayed that the applicants be permitted to withdraw 30% of the amount deposited by respondent No.3 - Insurance Company.

2. Heard Mr.Karna H. Dhomse, learned advocate for the applicant and Ms.Masumi Nanavaty, learned advocate for Mr.Vibhuti Nanavati, learned advocate for respondent No.3.

3. It is submitted by the learned advocate for the applicants that the appeal filed by respondent No.3 - Insurance Company has been admitted by this Court vide order dated 21.09.2020 and this Court has granted stay of the impugned judgment and award passed by the Claims Tribunal on a condition to deposit the awarded amount with interest and cost

C/FA/1706/2020 IA ORDER DATED: 16/11/2021

before the concerned Tribunal within stipulated period. It is submitted that the respondent Insurance Company has already deposited the said amount and, therefore, vide order dated 30.03.2021, this Court has confirmed the stay. This Court has also granted liberty to the original claimants to file an application for withdrawal/ disbursement of the awarded amount. Hence, the applicants have preferred the present application.

3.1 It is submitted that the Tribunal be directed to disburse 30% of the amount deposited by the Insurance Company.

4. In the facts and circumstances of the present case, the application is disposed of, with a direction that the Tribunal shall invest 70% of the amount in a cumulative Fixed Deposit Receipts in a nationalized Bank initially for a period of 3 years and renewable from time to time for similar period till final disposal of the appeal and 30% of the amount shall be given to the original claimants upon proper verification. The original FDRs to be retained by the Tribunal. The original claimants shall not be entitled to receive periodical interest on the invested amount. Disbursement of the amount in favour of the claimants shall be done by issuing Account Payee Cheque in the name of the claimants only.

(VIPUL M. PANCHOLI, J) piyush