The Oriental Insurance Co Ltd vs Dolatsinh Sukabhai Alias ...
2021 Latest Caselaw 15851 Guj

     C/FA/628/2021                               IA ORDER DATED: 07/10/2021




           IN THE HIGH COURT OF GUJARAT AT AHMEDABAD


               CIVIL APPLICATION (FOR STAY) NO. 1 of 2021
                     In R/FIRST APPEAL NO. 628 of 2021
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THE ORIENTAL INSURANCE CO LTD Versus DOLATSINH SUKABHAI ALIAS SUKHABHAI PARMAR ========================================================== Appearance:

for the PETITIONER(s) No. MR TANMAY B KARIA for the PETITIONER(s) No. NISHIT A BHALODI for the RESPONDENT(s) No. RULE SERVED for the RESPONDENT(s) No. ==========================================================

CORAM:HONOURABLE MR. JUSTICE A.G.URAIZEE

Date : 07/10/2021

IA ORDER

1. Heard learned advocates for the parties.

2. Learned advocate for the Insurance Company submits that the entire awarded amount of compensation along with interest and costs is deposited in the Tribunal in compliance of the order of this Court. Learned advocate for the Insurance Company, therefore, submits that necessary order for disbursement may be made and remaining amount may be invested in non-cumulative Fixed Deposit Receipt and stay granted earlier may be confirmed till the final disposal of the appeal.

3. Learned advocate for the claimants confirms that amount of compensation awarded by the learned Tribunal is deposited in the Tribunal. Learned advocate for the

C/FA/628/2021 IA ORDER DATED: 07/10/2021

claimants urge that 30% amount may be disbursed in favour of the claimants and remaining 70% amount of compensation may be invested in non-cumulative fixed deposit receipt in any nationalized bank as urges by learned advocate for the insurance company.

4. Having heard the learned advocates for the respective parties and having considered the facts and circumstances of the case, the 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 initially for a period of five years and thereafter renewed the same periodically till final disposal of the appeal. Periodical interest accrued on FD be released in favour of claimants.

5. Accordingly, present Civil Application stands disosed of. The stay granted earlier of the impugned judgment and award is confirmed till the final disposal of the appeal. Rule is made absolute.

(A.G.URAIZEE, J) SURESH SOLANKI