National Insurance Company ... vs Lakhuben Gobarbhai Makwana
2021 Latest Caselaw 16936 Guj

     C/FA/2444/2021                             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. 2444 of 2021
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NATIONAL INSURANCE COMPANY LIMITED Versus LAKHUBEN GOBARBHAI MAKWANA ========================================================== Appearance:

for the PETITIONER(s) No. MR MAULIK J SHELAT for the PETITIONER(s) No. NISHIT A BHALODI for the RESPONDENT(s) No. RULE SERVED for the RESPONDENT(s) No. ==========================================================

CORAM:HONOURABLE MR. JUSTICE A.G.URAIZEE

Date : 27/10/2021

IA ORDER

1. Heard learned advocates for the respective parties.

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 30% amount maybe disbursed in favour of the claimants and remaining 70% amount of compensation may be invested in cumulative fixed deposit receipt in

C/FA/2444/2021 IA ORDER DATED: 27/10/2021

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