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CA/2459/2011 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL
APPLICATION - FOR STAY No. 2459 of 2011
In
FIRST
APPEAL No. 558 of 2011
=========================================================
NATIONAL
INSURANCE COMPANY LTD - Petitioner(s)
Versus
HARESHBHAI
VELJIBHAI ITALIA DECEASED THROUGH LEGAL HEIR & 4 - Respondent(s)
=========================================================
Appearance
:
MR
NAGESH C SOOD for
Petitioner(s) : 1,
None for Respondent(s) : 1 -
5.
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE JAYANT PATEL
and
HONOURABLE
MS.JUSTICE B.M.TRIVEDI
Date
: 25/02/2011
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE JAYANT PATEL)
1. Rule.
Mr. Umang Vyas learned advocate waives service of rule on behalf of
the original claimants.
2. The
present application is for interim injunction pending the First
Appeal against the execution and implementation of the judgment and
award passed by the Tribunal, which is impugned in the First Appeal.
3. The
First Appeal is already admitted. Hence, considering the facts and
circumstances, there shall be interim injunction against the
execution and implementation of the judgment and award passed by the
Tribunal, on condition that the applicant deposits the entire awarded
amount together with interest and costs within four weeks from today.
4. We
have heard the learned advocates for the respective parties on the
aspect of withdrawal.
5. Considering
the facts and circumstances, out of the amount which may be deposited
by the applicant pursuant to the aforesaid condition imposed by this
Court, the original claimants shall be permitted to withdraw 20% of
the amount with proportionate interest and costs, whereas, the
remaining 80% of the amount shall be invested by the Tribunal in any
Nationalised Bank by way of Fixed Deposit Receipt initially for a
period three months and upon maturity, the same shall be renewed from
time to time till the First Appeal is disposed of, but with a
condition that the original claimants shall be entitled to the
periodical interest from time to time.
6. The
application is disposed of accordingly. Rule made absolute.
(JAYANT
PATEL, J.)
(Ms.
B.M. TRIVEDI, J.)
mandora/
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