Iffco Tokio General Insurance ... vs Banasarbhai Naranbhai Gayakwad
2021 Latest Caselaw 15754 Guj

      C/FA/4470/2019                                   IA ORDER DATED: 06/10/2021



             IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

                 CIVIL APPLICATION (FOR STAY) NO. 1 of 2019
                                     In
                       R/FIRST APPEAL NO. 4470 of 2019
==========================================================

IFFCO TOKIO GENERAL INSURANCE COMPANY LTD AHMEDABAD Versus BANASARBHAI NARANBHAI GAYAKWAD ========================================================== Appearance:

for the PETITIONER(s) No. MS MAUSAMI NANAVATI for MR VIBHUTI NANAVATI for the PETITIONER(s) No. MR R.K.MANSURI for the RESPONDENT(s) No. RULE SERVED for the RESPONDENT(s) No. UNSERVED EXPIRED (R) for the RESPONDENT(s) No. ==========================================================

CORAM:HONOURABLE THE ACTING CHIEF JUSTICE MR.

JUSTICE R.M.CHHAYA and HONOURABLE MR. JUSTICE BIREN VAISHNAV

Date : 06/10/2021

IA ORDER (PER : HONOURABLE THE ACTING CHIEF JUSTICE MR. JUSTICE R.M.CHHAYA)

1. Ms. Mausami Nanavati, learned advocate for Mr. Vibhuti Nanavati, learned advocate for the applicant and Mr. R.K. Mansuri, learned advocate for the opponents - original claimants. Presence of opponent no.2 - driver is not essential for deciding the present application.

2. Ms. Nanavati, learned advocate for the applicant states that the amount has been deposited as per the order dated 25.2.2021.

C/FA/4470/2019 IA ORDER DATED: 06/10/2021

3. In 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 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 Tribunal.

4. Accordingly, the application is disposed of.

Rule is made absolute.

(THE ACTING CHIEF JUSTICE R.M.CHHAYA, J)

(BIREN VAISHNAV, J) Maulik