Oriental Insurance Co Ltd vs Ramilaben Pravinbhai Valmiki ...
2021 Latest Caselaw 14136 Guj

     C/FA/2069/2021                              IA ORDER DATED: 15/09/2021




            IN THE HIGH COURT OF GUJARAT AT AHMEDABAD


                CIVIL APPLICATION (FOR STAY) NO. 1 of 2021
                     In R/FIRST APPEAL NO. 2069 of 2021
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ORIENTAL INSURANCE CO LTD Versus RAMILABEN PRAVINBHAI VALMIKI VAGHELA ========================================================== Appearance:

for the PETITIONER(s) No. MR MAULIK J SHELAT for the PETITIONER(s) No. MR KK THAKKAR for the RESPONDENT(s) No. RULE SERVED for the RESPONDENT(s) No. ==========================================================

CORAM:HONOURABLE MR. JUSTICE A.G.URAIZEE

Date : 15/09/2021 IA ORDER

1. Heard learned advocate 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/2069/2021 IA ORDER DATED: 15/09/2021

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 renewed the same periodically till final disposal of the appeal.

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