(Per : HONOURABLE MR.JUSTICE AKIL KURESHI) Appeal is admitted.
Order in CA No.12102 of 2011:
Rule.
Learned advocate Shri Satta waived service of rule on behalf of respondent No.1. Learned advocate Shri AJ Patel waived service of rule on behalf of respondent Nos.2/1 to 2/5, heirs of respondent No.2. Learned AGP Shri Rahul Dave waived service of rule on behalf respondent No.3.
On the condition that the applicant deposits the entire amount awarded by the reference Court with proportionate cost and interest and statutory benefits before the said Court latest by 31st May 2012, there shall be stay against execution and operation of the award.
Upon such deposit, the reference Court shall invest 50% thereof in any nationalized Bank initially for a period of five years. Such investment shall be renewed from time to time till final disposal of the appeal. The fixed deposit receipts shall be retained by the Registry of the Court and no loan shall be permitted to the claimants on such deposits. Remaining 50% shall be released in favour of the claimants through account payee cheque after due verification. Rule is made absolute accordingly.
(Akil Kureshi J.) (C.L.Soni, J.) (vjn) Top