CA/7472/2007 2/ 2 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD CIVIL APPLICATION - FOR STAY No. 7472 of 2007 In FIRST APPEAL No. 2649 of 2007 ========================================================= THE NEW INDIA ASSURANCE CO. LTD. - Petitioner(s) Versus GUNVANTIBEN BALAKDAS & 5 - Respondent(s) ========================================================= Appearance : MR SUNIL B PARIKH for Petitioner(s) : 1, MS AMRITA AJMERA for Respondent(s) : 1 - 4. RULE SERVED for Respondent(s) : 5 - 6. ========================================================= CORAM : HONOURABLE MR.JUSTICE H.K.RATHOD Date : 18/07/2008 ORAL ORDER
1. Heard
learned advocate Mr.S.B.Parikh for the applicant and learned advocate
Ms.Amrita Ajmera for respondent Nos. 1 to 4.
2. First
Appeal No.2649 of 2007 is already admitted by this Court on 1.5.2008.
3. In
present application, rule is issued by this Court, making it
returnable on 30.6.2008. Ad-interim is granted to the extent that the
amount, which is deposited by the applicant but has not been
disbursed or invested, shall not be disbursed or invested in the
meantime.
4. Learned
advocate Mr.Parikh for the applicant ý Assurance Co. submitted that
total amount awarded by the tribunal is Rs.8,06,940/- with 9%
interest. The award passed by claims Tribunal is dated 24.10.2005.
Date of accident is 2.11.1996. The Insurance Co. has deposited the
amount, total of which comes to Rs.13,84,604/-.
5. Learned
advocate Ms.Amrita Ajmera for the respondents claimants submitted
that challenge by the applicant ý Assurance Co. is restricted to
the extent of Rs.4 lacs. Therefore, rest of the amount may be
disbursed in favour of respondents claimants or interest may be given
to the claimants from the aforesaid amount.
6. I
have considered the submissions made by both the learned advocates.
That 30% disbursement is already made in favour of respondents
claimants from the amount so deposited by the applicant Assurance Co.
as per the direction of the claims Tribunal. That fact is not
disputed by learned advocate Ms.Ajmera.
7. In
view of the above fact, let rest of the entire amount be invested in
FDRs with any nationalized bank initially for a period of five years
with periodical renewal in the name of respondents claimants and
original FDRs shall remain with the Nazir of the claims Tribunal.
However, the respondents claimants are entitled the periodical
interest from the aforesaid FDRs till the appeal is finally decided
by this Court. Accordingly, rule is made absolute to aforesaid
extent.
(H.K.RATHOD,J.)
(vipul)