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CA/14698/2010 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL
APPLICATION - FOR STAY No. 14698 of 2010
In
FIRST
APPEAL No. 3983 of 2010
=========================================================
NATIONAL
INSURANCE CO LTD - Petitioner(s)
Versus
AMRATBHAI
DALSUKHBHAI RAVAL & 5 - Respondent(s)
=========================================================
Appearance :
MR
MEHUL SHARAD SHAH for
Petitioner(s) : 1,
MR VY TRIPATHI for Respondent(s) : 1,
RULE
SERVED for Respondent(s) : 2 - 4.
RULE NOT RECD BACK for
Respondent(s) : 5 -
6.
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE M.R. SHAH
Date
: 25/01/2011
ORAL
ORDER
1. Present
application has been preferred by the applicant herein-original
opponent no.6-National Insurance Company Limited to stay the further
execution, implementation and operation of the judgment and award
passed by the learned Motor Accident Claims Tribunal (Main),
Panchmahal at Godhra in MACP No.288 of 1997, during the pendency and
final disposal of the main appeal.
2. It
is reported that pursuant to the order passed by this Court dated
14.12.2010 in present application, applicant Insurance Company has
deposited entire awarded amount before the learned Tribunal.
3. Having
heard Shri Mehul Sharad Shah, learned advocate for the applicant and
Shri Tripathi, learned advocate for the original claimants and
looking to the defence taken by the appellant Insurance Company, the
Tribunal is directed to invest the entire amount as awarded by it
with interest and cost in a fixed deposit in the name of Nazir,
initially for a period of five years in any Nationalized Bank. The
Tribunal is further directed to continue to renew the aforesaid
fixed deposit as and when matured till any further order is passed by
this Court or till final disposal of the appeal. However, the
claimants shall be entitled to withdraw periodical interest on 50%
amount with proportionate cost and interest. Meaning thereby the
Tribunal is directed to invest 50% amount awarded with proportionate
cost and interest in a fixed deposit with cumulative interest and 50%
amount in fixed deposit permitting the claimants to withdraw the
periodical interest on the same. Fixed deposit shall be kept with the
Nazir and there shall not be any loan or advance on the said deposit.
Withdrawal of the interest by the claimants on the aforesaid amount
shall be without prejudice to the rights and contentions of the
respective parties in the First Appeal and subject to ultimate
outcome of the appeal. Rule is made absolute to the aforesaid extent.
(M.R.SHAH,J.)
kaushik
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