(Per : HONOURABLE MR.JUSTICE AKIL KURESHI)
1. On condition that the applicant-Insurance Company deposits its share out of the amount awarded by the Claims Tribunal with proportionate cost and interest under the impugned award within four weeks from today, there shall be stay against execution and implementation of the award. If such amount is not deposited within the time directed, the stay stands automatically vacated.
2. Upon such deposit, the Claims Tribunal shall proceed to invest and disburse the amount in terms of the provisions made in its impugned award. It is clarified that amount to be invested in the Fixed Deposit shall continue to be so deposited till further orders of the Court.
3. Since we are not varying the terms of investment and disbursement provided by the Claims Tribunal in the impugned award, we do not find it necessary to trouble the claimant with notice of this Civil Application. The same is disposed of however, with liberty to the claimants to approach in case of difficulty.
(AKIL KURESHI, J.) (C.L. SONI, J.) Hitesh Top