Order in First Appeal This appeal has been preferred by the Insurance Company against the award passed by the Tribunal. Learned counsel for the appellant has submitted that an award of Rs.14,74,980/- has been passed in favour of the claimants, which is on higher side. There are arguable points in the appeal.
Admitted.
Order in Civil Application Along with this appeal, there is an application seeking stay of execution of the award. The execution of the award shall remain stayed subject to the appellant depositing the awarded amount along with interest and proportionate cost. Out of this amount, 20% shall be disbursed to the claimants subject to the condition imposed by the Tribunal and remaining 80% of the amount be invested in long term Fixed Deposit in a nationalized bank in the name of the claimants, initially for a period of two years and to be renewed thereafter from Page 1 of 2 C/FA/468/2015 ORDER time to time. The receipt/s of the Fixed Deposit will remain in the custody of Nazir of the Tribunal and in the meantime, Rule be issued to the respondents returnable on 23.06.2015.
(MOHINDER PAL, J.) dharmendra Page 2 of 2