IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL APPLICATION No. 1368 of 1997
in
FIRST APPEAL No. 4114 of 1996
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RANCHHODBHAI RAVJIBHAI VAGHANIDECD.THRO' HEIRS SAVITABEN & 5
Versus
MAHIPATSINH ABHESINH CHAUHAN
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Appearance:
MR SHAKEEL A QURESHI for Petitioners
MR PV NANAVATI for Respondent No. 1, 2
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CORAM : MR.JUSTICE S.M.SONI and
MR.JUSTICE H.R.SHELAT
Date of Order: 07/02/97
ORAL ORDER
(Per: S.M. Soni, J.)
Rule, against respondent No.2. Application not
pressed against respondent No.1. Learned advocate, Mr.
P.V. Nanavati waives service of Rule for respondent No.2.
2.Heard the learned advocates. This Court, while
considering the Civil Application No. 9374 of 1996 for
stay filed by the applicants has passed the following
order on 4th November 1996;
“Rule. Ad-interim relief in terms of para 6(a)
on condition of depositing a further sum of
Rs.2,75,000/- with proportionate costs and
interest in this court within four weeks from
today. On such deposit, said amount with earlier
deposited amount be invested in a fixed deposit
with any Nationalised Bank initially for a period
of three years and for one year every time
thereafter till further orders. Liberty to
respondents to apply for withdrawal of interest,
accruing on such deposit.”
In compliance with the said order, appellant Insurance
Company has deposited Rs. 4,28,006/- with the Tribunal
at Bhavnagar. Applicants by this application have prayed
to allow them to withdraw certain amount and for
direction to invest the balance in a fixed deposit.
Considering the social status of the applicants, their
gender and minority, we are of the opinion that each of
the applicants No. 1 and 6 be allowed to withdraw Rs.
14,003/- from the amount deposited by the Insurance
Company. Balance amount of Rs. 4,00,000/- is ordered to
be invested in a fixed deposit with a Nationalised Bank
for a period which may earn the maximum rate of interest.
The said fixed deposit shall be renewed on expiry of the
initial period for further period till the appeal is
disposed of. From the said fixed deposit, the applicants
will be entitled to withdraw the interest amount accruing
thereon. The applicants will not deal with the said
fixed deposit in any manner whatsoever namely that they
shall neither raise any loan nor pledge the same nor
shall create any encumbrance thereon in any form.
3.In view of the above direction, the application
stands disposed of. Rule is made absolute accordingly. No
costs.
(S.M. Soni, J.)
7-2-1997.(H.R. Shelat, J.)