Reliance General Insurance Co Ltd vs Ranjanba Vanrajsinh Rana
2021 Latest Caselaw 16837 Guj

    C/FA/1648/2021                             IA ORDER DATED: 26/10/2021



         IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL APPLICATION (FOR WITHDRAWAL/DISBURSEMENT OF AMOUNT)
                          NO. 2 of 2021
                                In
                 R/FIRST APPEAL NO. 1648 of 2021
================================================================

RANJANBA VANRAJSINH RANA Versus RAJABHAI ATMARAMBHAI RAVAL ================================================================ Appearance:

MR. HEMAL SHAH for the PETITIONER(s) No. for the RESPONDENT(s) No. MR RATHIN P RAVAL for the RESPONDENT(s) No. ================================================================ CORAM:HONOURABLE MR. JUSTICE A.G.URAIZEE

Date : 26/10/2021 IA ORDER

1. Heard learned advocate for the applicant - Insurance Company.

2. Learned advocate for the applicant submits that Insurance Company has deposited the amount of compensation with interest and proportionate costs in the tribunal in compliance of order of this Court. He, therefore, urges that usual order of disbursement may be passed. It is his further submission that 70% may be invested in non cumulative fixed deposit and interest may be paid to the claimants.

3. Learned advocate for Insurance Company submits that 70% amount may be invested in cumulative fixed deposit as the Insurance Company has raised an issue of non involvement of the offending vehicle in the accident.

4. Considering the submission of the learned advocate on either side and considering the facts of the case the

C/FA/1648/2021 IA ORDER DATED: 26/10/2021

Tribunal is directed to disburse 30% of the deposited amount in favour of the claimants and invest remaining 70% of the amount in cumulative fixed deposit receipt in any nationalized bank to be kept in custody of Nazir, initially for a period of three years, and thereafter, renew the same periodically till disposal of the First Appeal. The periodical interest accrued on the fixed deposit is ordered to be released in favour of the claimants.

5. The stay of operation, implementation and execution of the impugned judgment and order granted earlier is confirmed till disposal of the appeal.

6. With the aforesaid directions, the application stands disposed of. Rule is made absolute.

(A.G.URAIZEE, J)

Manoj