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CA/8434/2009 1/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL
APPLICATION - FOR STAY No. 8434 of 2009
In
FIRST
APPEAL No. 3097 of 2009
=====================================================
NEW
INDIA ASSURANCE CO.LTD - Petitioner(s)
Versus
RAMILABEN
NARESHBHAI MACHHI & 7 - Respondent(s)
=====================================================
Appearance :
MR
HASMUKH THAKKER for Petitioner(s) : 1,
MR MTM HAKIM for
Respondent(s) : 1 - 4.
RULE UNSERVED for Respondent(s) : 5 -
6.
RULE SERVED for Respondent(s) : 7 -
8.
=====================================================
CORAM
:
HONOURABLE
MR.JUSTICE JAYANT PATEL
and
HON'BLE
SMT. JUSTICE ABHILASHA KUMARI
Date
: 22/07/2010
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE JAYANT PATEL)
1. The
present application is for interim injunction, pending the First
Appeal, against the judgment and award passed by the Tribunal, which
is impugned in the First Appeal.
2. This
Court considered the matter on 4-8-2009 and granted stay on condition
to deposit 60% of the amount. It has been stated by Mr.Hakim, learned
counsel for the respondents-claimants that the said amount has
already been deposited.
3. However,
Mr.Hakim, learned counsel appearing for the respondents-claimants
submitted that the remaining 40% of the amount is yet to be deposited
and he also submitted that the claimants may be permitted to withdraw
the amount,as this Court may find it proper.
4. Considering
the facts and circumstances,even if the appeal is admitted, we find
that the remaining 40% of the amount would be required to be
deposited by the applicant-Insurance Company,pending the First
Appeal. The amount to be deposited shall be to the extent of
liability fasten by the Tribunal. The withdrawal can be permitted to
the extent of 10% only and the interest,as may accrue from time to
time, may be paid to the original claimants, subject to the final
order in the appeal.
5. Hence
the earlier interim order is modified to the effect that the
applicant-Insurance Company shall deposit remaining 40% of the
awarded amount,as against its liability, within a period of six
weeks from today. After the amount is deposited, 10% of the total
amount shall be permitted to be withdrawn by the original claimants
and the remaining 90% of the amount shall remain invested with the
Nationalised Bank, initially for a period of three years, which will
be renewable from time to time until the appeal is finally heard. It
is also observed that until further orders, the interest, as may
accrue on the investment periodically from time to time, shall be
paid to the original claimants, subject to the final order in the
appeal.
6. The
application is disposed of accordingly. Rule is made absolute to the
aforesaid extent. No order as to costs.
(Jayant Patel,J)
(Smt.Abhilasha Kumari,J)
arg
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