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CA/597/2011 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL
APPLICATION - FOR STAY No. 597 of 2011
In
FIRST
APPEAL No. 101 of 2011
=========================================================
ORIENTAL
INSURANCE CO LTD., CHITRA CINEMA ROAD, GODHRA, - Petitioner(s)
Versus
MOHMEDHUSAIN
BABUBHAI SHAIKH & 9 - Respondent(s)
=========================================================
Appearance
:
MR
KK NAIR for
Petitioner(s) : 1,
RULE SERVED for Respondent(s) : 1 - 5,7 -
10.
MR P B KHAMBHOLJA for Respondent(s) : 1 - 5.
- for
Respondent(s) :
6,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE KS JHAVERI
Date
: 21/02/2011
ORAL
ORDER
Mr.
P.B. Khambhoja, learned advocate appears for respondent Nos. 1 to 5.
Interim
relief granted earlier stands confirmed on condition that the
applicant deposits the entire awarded amount, if not already
deposited, with the Tribunal within a period of eight weeks from
today. On deposit of the said amount, 70% of the same shall
be invested in the name of the Nazir of the Tribunal with
a nationalized Bank initially for a period of three years and
on maturity shall be renewed by one year at a time without
any further orders in
this regard till the disposal of the appeal. The Fixed Deposit
Receipt shall be retained with the Nazir of the Tribunal. The
periodical interest that may be accrued on the said deposit shall be
paid to the concerned respondents-original claimants pending this
appeal. The claimants are permitted to withdraw 30%
of the balance of the awarded amount as directed by the Tribunal by
Account Payee cheque which will be adjusted at the time of disposal
of the appeal. Rule is made absolute accordingly.
(K.S.JHAVERI,
J.)
niru*
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