Reliance General Insurance Co. ... vs Ashwinkumar Nemchandbhai ...
2021 Latest Caselaw 15168 Guj

     C/FA/4036/2018                           IA ORDER DATED: 27/09/2021



         IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL APPLICATION (FOR WITHDRAWAL/DISBURSEMENT OF AMOUNT)
                          NO. 1 of 2021
                                In
                 R/FIRST APPEAL NO. 4036 of 2018
================================================================

ASHWINKUMAR NEMCHANDBHAI KATKORIYA Versus BHAVESHBHAI VINODBHAI VORA ================================================================ Appearance:

for the PETITIONER(s) No. MR TUSHAR L SHETH for the PETITIONER(s) No. MR RATHIN P RAVAL for the RESPONDENT(s) No. ================================================================ CORAM:HONOURABLE MR. JUSTICE A.G.URAIZEE

Date : 27/09/2021 IA ORDER

1. Heard learned advocates for the parties.

2. The present application is preferred for withdrawal of the amount of compensation which the Insurance Company has deposited in the tribunal in compliance of order of this Court.

3. Learned advocate for the claimant 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 non cumulative fixed deposit.

4. Learned advocate for the Insurance Company submits that usual order for disbursement may be passed and remaining amount may be invested in non cumulative fixed deposit.

5. 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

C/FA/4036/2018 IA ORDER DATED: 27/09/2021

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.

6. The stay of operation, implementation and execution of the impugned judgment and order granted earlier is confirmed till disposal of the appeal.

7. With the aforesaid directions, the application stands disposed of. Rule is made absolute to the aforesaid extent.

(A.G.URAIZEE, J)

Manoj