Learned advocate for the applicant submits that the applicant-Insurance Company has deposited the entire decretal amount with the Tribunal.
2. Learned advocate for the respondent submits that out of 70% of the decretal amount of Rs.6,69,620/-, Rs.3,05,500/- is the amount of claim accepted by the applicant-Insurance company, therefore, the said amount may be ordered to be invested in the name of the applicant so that they can receive the accrued interest out of the said amount of Rs.3,05,000/- and remaining amount of Rs.3,64,120/- may be ordered to be kept in the Fixed Deposit. Learned advocate for the respondent has produced on record the details of disbursement, which is reproduced, as under:
Sr.No.
Particulars Amount [Rs.] 1 Claim awarded by the Tribunal 9,56,600/-
30% of total amount to be disbursed in the name of claimants 2,86,980/-
Out of 70% of total amount [6,69,620/-] to be invested in fixed deposit, amount to be invested in the name of applicants being amount of claim accepted by insurance company.
3,05,500/-
Amount to be invested in fixed deposit in the name of Nazir of the Tribunal 3,64,120/-
3. Considering the overall facts and circumstances of the case, the Tribunal is directed to invest Rs.3,05,500/- out of the 70% of the decretal amount in the name of the claimants and the claimants are at liberty to receive the interest accrued out of the said FDR. Further, the Tribunal is directed to deposit remaining 70% of the deposited amount of Rs.3,64,120/- in any Nationalized Bank in the name of the respondents-claimants initially for a period of three years with periodical renewal till the appeal is finally decided by this Court. Rest of the 30% of the amount being Rs.2,86,980/- is permitted to be withdrawn by the respondents-claimants by account payee cheque after proper verification subject to final result in the appeal. The FDR shall remain with the Nazir of the Court.
4. With the aforesaid direction, interim relief in terms of para 4[A] is granted and confirmed. This Civil Application stands disposed of. Rule is made absolute accordingly.
5. The Registry is directed to place First Appeal No. 921 of 2012 on Board on 3rd July, 2012.
[Anant S. Dave, J.] *pvv Top