The United India Insurance ... vs Subhashbhai Arjanbhai Maru
2021 Latest Caselaw 14831 Guj

    C/FA/1932/2021                            IA ORDER DATED: 22/09/2021



           IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
              CIVIL APPLICATION (FOR STAY) NO. 1 of 2021
                                  In
                    R/FIRST APPEAL NO. 1932 of 2021
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THE UNITED INDIA INSURANCE COMPANY LTD Versus SUBHASHBHAI ARJANBHAI MARU ================================================================ Appearance:

for the PETITIONER(s) No. MR VIBHUTI NANAVATI for the PETITIONER(s) No. RULE NOT RECD BACK for the RESPONDENT(s) No. RULE SERVED for the RESPONDENT(s) No. ================================================================ CORAM:HONOURABLE MR. JUSTICE A.G.URAIZEE

Date : 22/09/2021 IA ORDER

1. Heard Ms. Masumi Nanavati, learned advocate for Mr. Vibhuti Nanavati, learned advocate for the applicant - Insurance Company and Mr. Tushar Sheth, learned advocate for the claimants.

2. Ms. Nanavati, learned advocate submits that the amount of compensation together with interest and proportionate costs is deposited in the tribunal in compliance of order of this Court. She, therefore, submits that necessary disbursement order may be passed and stay may be confirmed till disposal of the appeal.

3. Mr. Tushar Sheth, learned advocate urges that 30% amount may be disburse in favour of the claimants and 70% amount may be invested in non cumulative fixed deposit. He, further urges that periodical interest may be allowed in favour of the claimants against the Insurance Company has challenged the impugned award on the quantum of compensation only.

C/FA/1932/2021 IA ORDER DATED: 22/09/2021

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 remaining 70% of the amount in non 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. The periodical interest accrued on the fixed deposit is ordered to be released in favour of the claimants.

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