The New India Assurance Company ... vs Labhuben Bhimjibhai Alias ...
2021 Latest Caselaw 16705 Guj

     C/FA/1670/2021                                IA ORDER DATED: 25/10/2021




            IN THE HIGH COURT OF GUJARAT AT AHMEDABAD


                CIVIL APPLICATION (FOR STAY) NO. 1 of 2021
                     In R/FIRST APPEAL NO. 1670 of 2021
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THE NEW INDIA ASSURANCE COMPANY LIMITED Versus LABHUBEN BHIMJIBHAI ALIAS BHIMBHAI RAMJIBHAI MAHIDA ========================================================== Appearance:

for the PETITIONER(s) No. MR RATHIN P RAVAL for the PETITIONER(s) No. NISHIT A BHALODI for the RESPONDENT(s) No. RULE SERVED for the RESPONDENT(s) No. UNSERVED EXPIRED (R) for the RESPONDENT(s) No. ==========================================================

CORAM:HONOURABLE MR. JUSTICE A.G.URAIZEE

Date : 25/10/2021

IA ORDER

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

2. Learned advocate for the Insurance Company submits that the entire awarded amount of compensation along with interest and proportionate 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 cumulative Fixed Deposit Receipt and stay granted earlier may be confirmed till the final disposal of the appeal.

C/FA/1670/2021 IA ORDER DATED: 25/10/2021

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 claimants urges that 30% amount may be disbursed in favour of the claimants and remaining 70% amount of compensation may be invested in 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 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 and the receipt to be kept in the custody of Nazir of the concerned Tribunal.

5. Accordingly, present Civil Application stands disposed 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