JUDGMENT : A.M. KAPADIA, J. 1. By instant application, the applicant/appellant-Insurance Company has prayed for the stay of the execution, operation and enforcement of the award dated 7.8.2006 rendered in MACP No. 1348 of 1998 by the MACT (Aux), Fast Court No. 3, Kheda at Nadiad. 2. We have heard Mr. G.C. Mazmudar, learned advocate for the applicant/appellant- insurance company and Mr. HM Parikh, learned advocate for opponent/respondent Nos.1 and 2-claimants. So far as opponent No. 3/respondent No. 3 is concerned, he has not been served but his presence is not necessary for deciding this application and hence this application is disposed of today though he has not been served with the notice of Rule. 3. Opponent Nos. 1 and 2/original claimants filed claim petition being MACP No. 1348 of 1998 under Section 166 of the Motor Vehicles Act to recover an amount of Rs. 31 lakhs by way of compensation on account of the accidental death of their son who has died in a vehicular accident which took place on 5.6.1998. 4. The MACT (Aux), Kheda at Nadiad, upon adjudication, has awarded an amount of Rs. 13,97,000/- together with interest at the rate of 7.5% per annum from the date of the application till realisation and also proportionate costs in favour of opponent Nos. 1 and 2/ claimants and accordingly the applicant/appellant is directed to deposit the said amount with the Tribunal. 5. Aggrieved thereby the applicant/appellant Insurance Company has filed this appeal which came up for hearing before this Court and this Court vide order dated 26.4.2007 admitted the appeal and in this Civil application Rule and notice as to interim relief was issued. Ad-interim relief in terms of para 8 (A) was also granted on condition that the awarded amount shall be deposited by the applicant/appellant insurance company with the concerned Tribunal within a period of four weeks. 6. Mr. G.C. Mazmudar, learned advocate for the applicant/appellant-insurance company states that in compliance of the aforesaid order, the applicant/appellant has deposited a total amount of Rs. 21,45,154/- with the concerned Tribunal on 22.5.2007. Over and above this amount, Rs. 25,000/- which was deposited by the applicant/appellant with the registry of this Court at the time of filing of the appeal has also been transmitted to the concerned Tribunal. He further states that in this appeal the applicant/appellant has restricted their challenge to Rs. 21,45,154/- with the concerned Tribunal on 22.5.2007. Over and above this amount, Rs. 25,000/- which was deposited by the applicant/appellant with the registry of this Court at the time of filing of the appeal has also been transmitted to the concerned Tribunal. He further states that in this appeal the applicant/appellant has restricted their challenge to Rs. 10,00,000/- and, therefore, appropriate orders may be passed directing the concerned Tribunal that an amount of Rs. 10,00,000/- may be deposited in the name of the Nazir/Registrar of the concerned Tribunal so as to see that the interest of the applicant/appellant - Insurance Company is protected and in future, in the event of the applicant/appellant succeeding in the appeal, there may not be any difficulty in recovering the said amount from the claimants. 7. As against this, Mr. H.M. Parikh, learned advocate for opponent Nos. 1 and 2/claimants submitted that the entire amount deposited by the applicant/appellant-Insurance Company may be disbursed in favour of the claimants in terms of the directions contained in the award passed by the Tribunal. Therefore, he submitted that out of the total amount deposited by the applicant/appellant-Insurance Company with the concerned Tribunal, 70% of the amount may be ordered to be invested in the name of the opponent Nos. 1 and 2/claimants in any nationalised bank yielding higher rate of interest with a provision that they shall receive the periodical interest that may be accrued on the Fixed Deposit and remaining 30% amount shall be paid to them in cash. 8. Having considered the submissions advanced by the learned advocates appearing for the parties and having perused the impugned award, according to us, there is some substance in the submission made by Mr. G.C. Mazmudar, learned advocate for the applicant/appellant. Therefore, according to us, if Rs. 8 lakhs is directed to be deposited in the name of Nazir/Registrar of the concerned Tribunal in any nationalised bank in a cumulative scheme yielding higher rate of interest initially for a period of three years with a further direction to renew the same with interest accrued thereon from time to time till the appeal is finally heard and decided whereas out of the remaining amount, Rs .10 lakhs is directed to be invested in equal proportion in the name of opponent Nos. 1 and 2/claimants separately in Fixed Deposit in any nationalised bank yielding higher rate of interest initially for a period of three years with a further direction that the same shall be renewed from time to time till the appeal is finally heard and decided, with a provision that opponent Nos. 1 and 2/ claimants shall receive the periodical interest that may be accrued on the Fixed Deposit in their name and the amount remaining from the total amount deposited by the applicant/ appellant-insurance company shall be paid to opponent Nos. 1 and 2/claimants in equal proportion by account payee cheque, the interest of justice would be met. 9. Hence, the following directions are issued to the MACT (Aux.) Fast Track Court No. 3, Kheda at Nadiad: (a) Out of the total amount deposited by the applicant/appellant-Insurance Company with the concerned Tribunal, Rs. 8 lakhs is directed to be deposited in the name of Nazir/Registrar of the concerned Tribunal in any nationalised bank in a cumulative scheme yielding higher rate of interest initially for a period of three years with a further direction to renew the same with interest accrued thereon from time to time till the appeal is finally heard and decided. (b) Out of the remaining amount, Rs. 10 lakhs is directed to be invested in equal proportion in the name of opponent Nos. 1 and 2/claimants separately in Fixed Deposit in any nationalised bank yielding higher rate of interest initially for a period of three years with a further direction that the same shall be renewed from time to time till the appeal is finally heard and decided, with a provision that opponent Nos. 1 and 2/claimants shall receive the periodical interest that may be accrued on the Fixed Deposit in their name. (c) After undertaking the above exercise, the amount remaining from the total amount deposited by the applicant/appellant-insurance company shall be paid to opponent Nos. 1 and 2/claimants in equal proportion by account payee cheque, after due verification. (d) The bank in which the amount will be deposited by the concerned Tribunal shall be directed that they shall not permit opponent Nos. 1 and 2/claimants to prematurely encash the Fixed Deposit and shall also not permit them to create any encumbrance on the said Fixed Deposit without prior permission of this Court. 10. (d) The bank in which the amount will be deposited by the concerned Tribunal shall be directed that they shall not permit opponent Nos. 1 and 2/claimants to prematurely encash the Fixed Deposit and shall also not permit them to create any encumbrance on the said Fixed Deposit without prior permission of this Court. 10. With the aforesaid directions the execution, operation and implementation of the impugned award is stayed. The application is accordingly allowed with no order as to costs. Rule is made absolute accordingly. 11. Mr. H.M. Parikh, learned advocate for opponent Nos. 1 and 2/claimant, requests that he may be permitted to effect direct service of this order. Hence, direct service is permitted as requested by him. Application allowed.