Gujarat High Court
Bajaj Alliance General Insurance ... vs Anandbhai Jayeshbhai Acharya on 12 October, 2021
Bench: A.G.Uraizee
C/FA/2705/2021 ORDER DATED: 12/10/2021
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
R/FIRST APPEAL NO. 2705 of 2021
With
CIVIL APPLICATION (FOR STAY) NO. 1 of 2020
In R/FIRST APPEAL NO. 2705 of 2021
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BAJAJ ALLIANCE GENERAL INSURANCE COMPANY LIMITED
Versus
ANANDBHAI JAYESHBHAI ACHARYA
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Appearance:
MR MAULIK J SHELAT(2500) for the Appellant(s) No. 1
for the Defendant(s) No. 3,3.1
MR KK THAKKAR(2834) for the Defendant(s) No. 1,2
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CORAM:HONOURABLE MR. JUSTICE A.G.URAIZEE
Date : 12/10/2021
ORAL ORDER
ORDER IN FIRST APPEAL
Heard learned advocates for the respective parties.
Mr.K.K. Thakkar, learned advocate waives service of
notice of admission for respondent Nos.1 and 2.
ORDER IN CIVIL APPLICATION
1. Heard learned advocates for the respective parties.
2. Rule. Mr.K.K. Thakkar, learned advocate waives
service of notice of Rule for respondent Nos.1 and 2.
3. Learned advocate for the Insurance Company
submits that the awarded amount of compensation along
C/FA/2705/2021 ORDER DATED: 12/10/2021
with interest and costs is deposited in the Tribunal in
compliance of the order of this Court. He, therefore,
submits that necessary order for disbursement may be
made and stay granted earlier may be confirmed till the
final disposal of the appeal.
4. Learned advocate for the claimants submits that the
Insurance Company has questioned the awarded
compensation to be extent of Rs.2,50,000/-. He urges that
30% amount may be disbursed in favour of the claimants
and remaining 2,50,000/- may be invested in cumulative
fixed deposit receipt in any nationalized bank and rest of
the amount deposited in non-cumulative fixed deposit and
periodical interest accrued on FD may be released in
favour of claimants.
5. 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 the balance amount of Rs.2,50,000/- shall be invested
in cumulative FDR in any nationalized bank initially for a
period of five years and thereafter renew the same
periodically till final disposal of the appeal and the receipt
to be kept in the custody of Nazir. Rest of the amount shall
be invested in non-cumulative FDR in any nationalized
bank initially for a period of five years and thereafter
renew the same periodically till final disposal of the appeal
C/FA/2705/2021 ORDER DATED: 12/10/2021
and the receipt to be kept in the custody of Nazir of the
Tribunal. Periodical interest accrued on FD be released in
favour of claimants.
6. Accordingly, 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)
ALI
