Royal Sundaram Alliance ... vs Kamleshkumar Gunvantlal Patel
2021 Latest Caselaw 13574 Guj

    C/FA/660/2020                           IA ORDER DATED: 07/09/2021



         IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL APPLICATION (FOR WITHDRAWAL/DISBURSEMENT OF AMOUNT)
                           NO. 1 of 2021
                                 In
                  R/FIRST APPEAL NO. 660 of 2020
================================================================

KAMLESHKUMAR GUNVANTLAL PATEL Versus ROYAL SUNDARAM ALLIANCE INSURANCE COMPANY LTD ================================================================ Appearance:

MR MAKBUL I MANSURI for the PETITIONER(s) No. MR DAKSHESH MEHTA for the RESPONDENT(s) No. MR. RUSHANG D MEHTA for the RESPONDENT(s) No. ================================================================ CORAM:HONOURABLE MR. JUSTICE A.G.URAIZEE

Date : 07/09/2021 IA ORDER

1. Heard learned advocate for the applicant-Insurance Company and learned advocate for the respondent- claimants.

2. Learned advocate for the applicant submits that the applicant-Insurance Company has deposited the entire awarded amount with interest and cost in the Tribunal in compliance with the order dated 28.06.2021. He, therefore submits that usual order for disbursement may be passed and stay may be confirmed till the final disposal of the appeal.

3. Learned advocate for the respondent submits that 30% of the deposited amount may be disbursed in favour of the claimants and remaining 70% of the amount may be invested in the cumulative fixed deposit.

4. Having heard learned advocates for the respective parties and having considered the facts and circumstances

C/FA/660/2020 IA ORDER DATED: 07/09/2021

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 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 No.660/2020.

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 to the aforesaid extent.

(A.G.URAIZEE, J)

Manoj