Reliance General Insurance Co Ltd vs Kantaben Wd/O Mavjibhai ...
2021 Latest Caselaw 17325 Guj

     C/FA/2164/2021                                IA ORDER DATED: 16/11/2021




            IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

                CIVIL APPLICATION (FOR STAY) NO. 1 of 2021
                     In R/FIRST APPEAL NO. 2164 of 2021
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RELIANCE GENERAL INSURANCE CO LTD Versus KANTABEN WD/O MAVJIBHAI NANJIBHAI GAMETI ========================================================== Appearance:

for the PETITIONER(s) No. MR RATHIN P RAVAL for the PETITIONER(s) No. MR.HIREN M MODI for the RESPONDENT(s) No. RULE SERVED for the RESPONDENT(s) No. ========================================================== CORAM:HONOURABLE MR. JUSTICE VIPUL M. PANCHOLI

Date : 16/11/2021

IA ORDER Heard learned advocates for the parties. It is submitted that pursuant to the order dated 11.8.2021 by which the appeal filed by the insurance company is admitted and stay is granted of the impugned judgment and award on condition to deposit the entire awarded amount with interest and cost, the amount is deposited.

In the facts of this case, the impugned judgment and award is stayed till final disposal of the appeal. The Trial Court shall invest 70% of the amount in a 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 shall not encashed till the final disposal of the appeal and 30% of the amount shall be given to the original claimants upon proper verification. The original claimants are also entitled to periodical interest that may accrue on the Fixed Deposit Receipts. The original FDRs to be retained by the Trial Court.

Accordingly, the application is disposed of. Rule is made absolute.

(VIPUL M. PANCHOLI, J) SRILATHA