The National Insurance Company ... vs Natvarlal Hirabhai Patel
2021 Latest Caselaw 16840 Guj

      C/FA/816/2021                               IA ORDER DATED: 26/10/2021




            IN THE HIGH COURT OF GUJARAT AT AHMEDABAD


                CIVIL APPLICATION (FOR STAY) NO. 1 of 2020
                      In R/FIRST APPEAL NO. 816 of 2021
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THE NATIONAL INSURANCE COMPANY LIMITED Versus NATVARLAL HIRABHAI PATEL ========================================================== Appearance:

for the PETITIONER(s) No. MR MAULIK J SHELAT for the PETITIONER(s) No. MR R.K.MANSURI for the RESPONDENT(s) No. RULE SERVED for the RESPONDENT(s) No. RULE UNSERVED 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 and learned advocate for the original claimants. There is no appearance on behalf of the other respondent except respondent No.4-owner of one of the vehicles involved in the accident. Presence of respondent No.4 is not necessary for the purpose of disposal of this application.

2. Learned advocate for Insurance Company submits that entire amount of compensation along with interest and proportionate costs is deposited in the tribunal in compliance of order of this Court. It is his further submission that the stay of the impugned judgment and award may be confirmed till disposal of the appeal.

3. Learned advocate for the applicant submits that 30% of deposited amount may be disbursed in favour of the

C/FA/816/2021 IA ORDER DATED: 26/10/2021

claimant and remaining 70% of the deposited amount may be invested in non cumulative fixed deposit and interest accrued on the fixed deposit may be disbursed in favour of the claimant.

4. Learned advocate for Insurance Company submits that considering the legal issue involved in the appeal, 70% amount may be invested in cumulative fixed deposit.

5. Having heard learned advocates for the respective parties and having considered the facts and circumstances of the case, the Tribunal is directed to disburse 30% of the deposited amount in favour of the claimants and invest remaining 70% of the amount in non cumulative fixed deposit receipt in any nationalized bank to be kept in custody of Nazir, initially for a period of five years, and thereafter, renew the same periodically till disposal of the First Appeal.

6. The periodical interest accrued on the fixed deposit is ordered to be released in favour of the claimants. The stay of operation, implementation and execution of the impugned judgment and order granted earlier is confirmed till disposal of the appeal.

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

(A.G.URAIZEE, J) ALI