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FA/3298/2011 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
FIRST
APPEAL No. 3298 of 2011
=========================================================
ORIENTAL
INSURANCE CO. LTD. - Appellant(s)
Versus
DEPENDANTS
OF DECD. GULABBHAI BABUBHAI - BABUBHAI RAMESHBHAI & 2 -
Defendant(s)
=========================================================
Appearance
:
MR
ANAL S SHAH for
Appellant(s) : 1,
None for Defendant(s) : 1 -
3.
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE G.B.SHAH
Date
: 19/10/2011
ORAL
ORDER
Admit.
CIVIL
APPLICATION NO.11249 OF 2011
Heard
learned advocates for the parties.
Learned
advocate Mr.Anal S. Shah for the applicant states that the applicant
Insurance Company has already deposited the principal amount as well
the interest amount at the rate of 12% i.e. 6,42,958/- before the
Learned Commissioner for Employee’s Compensation Act, Amreli.
So
far as the interest amount of Rs.3,33,090/- which is under challenge
deposited by the applicant Insurance Company as referred above is
concerned, the said amount shall be invested by the Trial Court in
any nationalised Bank in Cumulative
Fixed Deposit in the joint name of the original claimant and in the
name of Nazir of the Trial Court initially for a period of three
years and such investment shall be renewed from time to time until
the Appeal is finally disposed of. The original FDR(s) shall be
retained with the Nazir of the Trial Court.
So
far as the disbursement is concerned, from the rest of the deposited
amount, the Trial Court is directed to disburse 30% of remaining
amount deposited by the Insurance Company, to the original claimant
by Account Payee cheque in the name of the original claimant after
proper verification. Remaining 70% amount shall be invested by the
Trial Court in any nationalised Bank in Fixed Deposit in the joint
name of the original claimant and in the name of Nazar of the Trial
Court initially for a period of three years and such investment
shall be renewed from time to time until the Appeal is finally
disposed of. The original FDR(s) shall be retained with the Nazir of
the Trial Court. The original claimant is entitled to get periodical
interest thereon.
In
view of the above, this Civil Application is allowed.
(G.B.
SHAH, J.)
Girish
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