Iffco Tokio General Insurance ... vs Gangaben Hemrajbhai Desai
2021 Latest Caselaw 16933 Guj

    C/FA/1684/2021                              IA ORDER DATED: 27/10/2021




           IN THE HIGH COURT OF GUJARAT AT AHMEDABAD


               CIVIL APPLICATION (FOR STAY) NO. 1 of 2021
                    In R/FIRST APPEAL NO. 1684 of 2021
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IFFCO TOKIO GENERAL INSURANCE COMPANY Versus GANGABEN HEMRAJBHAI DESAI ========================================================== Appearance:

for the PETITIONER(s) No. MR KRUNAL R SAKSENA for the PETITIONER(s) No. NISHIT A BHALODI for the RESPONDENT(s) No. RULE UNSERVED for the RESPONDENT(s) No. ==========================================================

CORAM:HONOURABLE MR. JUSTICE A.G.URAIZEE

Date : 27/10/2021 IA ORDER

1. Heard learned advocate for the Insurance Company and learned advocate for the claimant. Presence of unserved respondent is not necessary for the disposal of this application.

2. Learned advocate for the Insurance Company submits that the awarded amount of compensation along 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.

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

C/FA/1684/2021 IA ORDER DATED: 27/10/2021

30% amount maybe 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.

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 renew the same periodically till final disposal of the appeal and the receipt to be kept in the custody of Nazir.

5. 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