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CA/565420/2011 3/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL
APPLICATION - FOR STAY No. 5654 of 2011
In
FIRST
APPEAL No. 1526 of 2011
=========================================================
IFFCO-TOKIO
GEN. INS. CO. LTD. - Petitioner(s)
Versus
RAMJIBHAI
GANDABHAI PATEL (GAMBHA) DECEASED THROUGH LEGAL & 7 -
Respondent(s)
=========================================================
Appearance
:
MR
AJAY R MEHTA for
Petitioner(s) : 1,
MR MEHUL S SHAH for Respondent(s) : 1 -
5,
None
for Respondent(s) : 6 -
8.
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE JAYANT PATEL
and
HONOURABLE
MR.JUSTICE R.M.CHHAYA
Date
: 01/07/2011
ORAL ORDER
(Per
: HONOURABLE MR.JUSTICE JAYANT PATEL)
1. RULE.
Mr. Mehul S. Shah appears and waives service of notice of rule on
behalf of respondent Nos.1 to 5 – original claimants. The
presence of other party to the proceedings would not be required at
this stage.
2. The
present application is for interim injunction pending the First
Appeal against the execution of the judgment and award passed by the
Tribunal which is impugned in the First Appeal.
3. Considering
the facts and circumstances of the case and in view of the grounds
stated in the application for stay, there shall be interim injunction
against execution and implementation of the judgment and award passed
by the Tribunal on condition that the applicant deposits the entire
award amount together with the costs and interest with the Tribunal
within a period of six weeks from today.
4. We
have heard learned counsel for the applicant-appellant as well
as learned counsel for the original claimants on the aspect of
withdrawal.
5. Considering
the facts and circumstances, out of the amount which may be
deposited, the original claimants shall be permitted to withdraw 20%
of the amount as per the inter-se proportion decided by the Tribunal
and the remaining 80% of the amount shall be invested by the Tribunal
with the nationalized bank in the Fixed Deposit Receipts initially
for a period of three years and such investment shall be renewed from
time to time until the First Appeal is finally disposed of. The
original claimants shall be entitled to the periodical interest as
and when it becomes due. The original Fixed Deposit Receipts
shall be retained by the Nazir of the Tribunal. It is also directed
that the disbursement and the apportionment shall be made as per the
inter-se apportionment made by the Tribunal in the award amongst the
claimants.
6. The
application is disposed of accordingly. Rule is made absolute to the
aforesaid extent.
[JAYANT
PATEL, J.]
[R.M.
CHHAYA, J.]
mrpandya
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