The Oriental Insurance Co Ltd vs Shakuntalaben Pareshkumar ...
2021 Latest Caselaw 13576 Guj

    C/FA/1961/2020                            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. 1961 of 2020
================================================================

SHAKUNTALABEN PARESHKUMAR PARMAR Versus THE ORIENTAL INSURANCE CO LTD ================================================================ Appearance:

MR MOHSIN M HAKIM for the PETITIONER(s) No. MR VC THOMAS 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 15.10.2020. 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 of the case, the Tribunal is directed to disburse 30% of the deposited amount in favour of the claimants and invest

C/FA/1961/2020 IA ORDER DATED: 07/09/2021

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.1961/2020.

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