Iffco Tokio General Insurance Co ... vs Manjulaben Wd/O Jayantibhai ...
2021 Latest Caselaw 15452 Guj

    C/FA/2641/2020                              IA ORDER DATED: 01/10/2021




           IN THE HIGH COURT OF GUJARAT AT AHMEDABAD


               CIVIL APPLICATION (FOR STAY) NO. 1 of 2020
                    In R/FIRST APPEAL NO. 2641 of 2020
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IFFCO TOKIO GENERAL INSURANCE CO LTD Versus MANJULABEN WD/O JAYANTIBHAI JUVANSINH RATHOD ========================================================== Appearance:

for the PETITIONER(s) No. MR RATHIN P RAVAL for the PETITIONER(s) No. MR JITENDRA H SINGH for the RESPONDENT(s) No. RULE SERVED for the RESPONDENT(s) No. RULE UNSERVED for the RESPONDENT(s) No. ==========================================================

CORAM:HONOURABLE MR. JUSTICE A.G.URAIZEE

Date : 01/10/2021

IA ORDER

Heard learned advocate for the Insurance Company and learned advocate for the claimants.

Learned advocate for the Insurance Company submits that awarded amount of compensation along with interest and costs is deposited in the Tribunal in compliance of the order of this Court. He, therefore, submits that stay granted earlier may be confirmed till the final disposal of the appeal.

Learned advocate for the claimants confirms that amount of compensation awarded by the learned Tribunal is deposited in the Tribunal. He urges that 30% amount may be disbursed in favour of the claimants and remaining 70% amount of compensation may be invested in noncumulative fixed deposit receipt in any nationalised bank and periodical

C/FA/2641/2020 IA ORDER DATED: 01/10/2021

interest accrued thereon may be ordered to be released in favour of the claimants.

In view of the above, the application stands allowed. The stay granted earlier of the impugned judgment and award is confirmed till the final disposal of the appeal.

Learned Tribunal shall disburse 30% of the deposited amount to the claimants and remaining 70% of the deposited amount shall be invested in non-cumulative FDR in any nationalized bank which shall be renewed periodically till final disposal of this appeal and the same shall not be encashed by the claimants till the final disposal of this appeal. The interest accrued on the FDR periodically shall be paid to the claimants. The FDR receipt shall be kept in the custody of the Nazir of the Tribunal. Rule is made absolute.

(A.G.URAIZEE, J) H.M. PATHAN