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CA/3921/2011 3/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL
APPLICATION - FOR STAY No. 3921 of 2011
In
FIRST
APPEAL No. 1086 of 2011
=========================================================
NEW
INDIA ASSURANCE CO LTD,, REGISTERED OFFICE 87, MAHATMA -
Petitioner(s)
Versus
HEIRS
OF DECEASED RAMESHBHAI NARANBHAI, RASILABEN RAMESHBHAI & 8 -
Respondent(s)
=========================================================
Appearance :
MR
SUNIL B PARIKH for
Petitioner(s) : 1,
None for Respondent(s) : 1 - 7, 9,
- for
Respondent(s) :
8,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE JAYANT PATEL
and
HONOURABLE
MR.JUSTICE H.B.ANTANI
Date
: 05/04/2011
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE JAYANT PATEL)
Rule.
Ms.Ajmera appears for the original claimants and waives notice of
Rule for respondents no.1 to 6. Mr.Shelat appears for respondent
no.8 and waives notice of Rule. The presence of other parties to
the proceedings may not be required at this stage.
The
present application is for interim injunction against execution and
implementation of the judgement and award of the Tribunal which is
impugned in the First Appeal.
Considering
the facts and circumstances, there shall be interim injunction
against execution and implementation of the judgment and the award
passed by the Tribunal on the condition that the applicant deposits
the entire awarded amount together with costs and interest to the
extent of the liability of the applicant found by the Tribunal
within a period of four weeks from today.
We
have heard the learned counsel appearing for both the sides on the
aspects of withdrawal.
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 with the clarification that all claimants shall
proportionately share the withdrawal and if any of the claimant is
minor on the date of the withdrawal, the share of minor shall be
invested initially for a period of three years and upon attaining
majority, the said minor shall be at the liberty to encash the FDR
without their being any specific order of this Court. The remaining
80% of the amount shall be invested by the Tribunal with the
Nationalised Bank initially for a period of three years and such
investment shall be renewed from time to time until the appeal is
finally disposed. The original Fixed Deposit Receipt shall be
retained with the Nazir Department of the Tribunal.
Application
allowed to the aforesaid extent. Rule made absolute accordingly.
(JAYANT
PATEL, J.)
(H.B.
ANTANI, J.)
*bjoy
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