On 1st December 2011, the following order was passed by the Court in the Civil Application:
"Rule, returnable on 26.12.2011, on condition that the appellant shall deposit the entire decreetal amount along with interest and costs, if any, before the concerned Tribunal.
It will be open for the appellant to serve through Reg.A.D. or by Direct Service."
However, a detailed order with regard to disbursement and withdrawal of the awarded amount with interest was not passed.
Considering the facts and circumstances of the case, on depositing the entire decretal amount together with accrued interest and costs by the applicant-Insurance Company as directed in the order dated 1st December 2011, the Tribunal is directed to invest 70% thereof 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 Rest of the 30% of the amount is permitted to be withdrawn by the respondents-claimants by account payee cheque after proper verification subject to final result in the appeal.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.
With the aforesaid direction, interim relief in terms of paragraph 4(A) is granted. Rule is made absolute. This Civil Application stands disposed of.
(ANANT S. DAVE, J.) (swamy) Top