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CA/467/2011 3/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL
APPLICATION - FOR STAY No. 467 of 2011
In
FIRST
APPEAL No. 3969 of 2010
With
CIVIL
APPLICATION No. 468 of 2011
In
FIRST
APPEAL No. 3970 of 2010
=========================================================
ORIENTAL
INSURANCE CO LTD (HUB) - Petitioner(s)
Versus
LEGAL
HEIRS OF RAJESHKUMAR CHAGGANBHAI RAYANI, BHAVNABEN & 8 -
Respondent(s)
=========================================================
Appearance
:
MR
RITURAJ M MEENA for
Petitioner(s) : 1,
RULE SERVED for Respondent(s) : 1 - 2,4 - 7,
9,
MR TUSHAR L SHETH for Respondent(s) : 1 - 2, 4,
DELETED for
Respondent(s) : 3,
RULE NOT RECD BACK for Respondent(s) : 8,
MR
HASMUKH THAKKER for Respondent(s) :
9,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE JAYANT PATEL
and
HONOURABLE
MS.JUSTICE B.M.TRIVEDI
Date
: 17/03/2011
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE JAYANT PATEL)
Both
the present applications are for interim injunction pending the
First Appeals against the judgement and award passed by the
Tribunal, which is impugned in the First Appeals.
We
have heard Mr.Meena, learned Counsel for the applicant and
Mr.Hasmukh Thakker, learned Counsel for the original
claimants. The presence of the other parties to the proceedings may
not be required at this stage.
This
Court on 20.1.2011 had passed the following
orders:-
” Rule
returnable on 3rd March 2011. Stay of operation,
implementation and execution of the award on condition that the
applicant-appellant Insurance Company deposits the amount of
compensation awarded with costs and interest with the Tribunal
within four weeks.”
It
has been declared by Mr.Meena, learned Counsel appearing for the
applicant, that the amount has been deposited.
Under
these circumstances, the ad-interim relief granted earlier shall
stand confirmed. It is clarified that the present interim order
shall operate to the extent of execution and implementation of the
award against the applicant Insurance Company only.
Considering
the facts and circumstances, out of the total amount deposited, 20%
of the amount shall be permitted to be withdrawn by the original
claimants, save and except that the share of the minor concerned
shall be invested in FDR until the minor attains the age of
majority, but the guardians of the minor would be entitled to the
periodical interest. It is further observed that upon attaining the
age of majority, the minor would be entitled to encash the FDR
without there being any specific order of this Court.
The
remaining amount of 80% shall be invested by the Tribunal with a
nationalized Bank in FDR initially for a period of three years and
such investment shall be renewed from time to time until the appeal
is finally disposed of, but the original claimant(s) shall be
entitled for the periodical interest as and when it becomes due.
The original FDR(s) shall be retained by the Nazir Department of the
Tribunal.
The
application is allowed to the aforesaid extent. Rule made absolute
accordingly.
(Jayant Patel, J.)
(Ms.
B. M. Trivedi, J.)
vinod
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