United India Insurance Co. Ltd. v. Jaysukhbhai Nanjibhai Chavda
2017-09-18
R.M.CHHAYA
body2017
DigiLaw.ai
ORDER : R.M CHHAYA, J. 1. Heard Mr. H.G Mazmudar, learned Counsel appearing for the applicant; Mr. Manoj Shrimali, learned Counsel apping for the respondent No. 2; Mr. Hemal Shah, learned Counsel appearing for the respondent No. 1. Though served, no one appears for the respondent No. 3. 2. Mr. H.G Mazmudar, learned Counsel appearing for the applicant has submitted that the amount has been deposited as per the order dated 3o.6.2017 3. Mr. Manoj Shrimali, learned Counsel appearing for the respondent No. 2 and Mr. Hemal Shah, learned Counsel appearing for the respondent 1 state that this Court may pass an appropriate order. 4. This Court by an order dated 30.6.2017 had passed the following order:— “Notice, returnable on 27.7.2017 Ad-interim relief in terms of paragraph 7(A) is granted. The Insurance Company shall deposit the awarded amount within a period of four weeks from today.” 5. The stay that has been granted by an order dated 30.6.2017 shall continue till final disposal of the main appeal. However, it is directed that 70% of the amount shall be invested in a Fixed Deposit having cumulative effect in any of the nationalized bank initially for a period of five years, which will be renewed automatically till final disposal of the main Appeal. However, the claimant shall not be permitted to create any encumbrance upon it and no loan or advance or charge would be permissible. The claimant shall be entitled to periodical interest that may accrued on such FDR. 30% of the amount shall be disbursed to the original claimant by an account payee cheque on proper identification. The original FDR shall be kept with the Tribunal. 6. Civil Application stands disposed of accordingly.