(Per : HONOURABLE THE ACTING CHIEF JUSTICE MR.BHASKAR BHATTACHARYA) This is an application for withdrawal of the amount deposited by the appellant as a condition of stay of execution of the award impugned in this appeal.
Heard learned advocates appearing in the matter.
At the time of disposal of the application for stay, as none of the heirs of the victim was present, the Court gave liberty to the claimants to file appropriate application for permission to withdraw part of the amount deposited by the appellant Insurance Company. Pursuant to such liberty granted by the Division Bench, the present application has been filed.
It appears that by the award impugned, the Tribunal awarded a sum of Rs.13,16,000/- to the claimants with interest at the rate of 9% per annum. It further appears that the Insurance Company has deposited the entire amount awarded with interest but has restricted the appeal only to the extent of Rs.6,20,000/-. Thus, the balance amount of Rs.6,96,000/- remains unchallenged.
In such circumstances, we give liberty to the claimants-respondents No.1, 2, 3, 4 and 6 to withdraw the amount of Rs.6,96,000/- as claimant No.5, father of the victim, cannot be said to be an heir of the deceased victim according to the provisions contained in Hindu Succession Act.
Thus, out of the aforesaid amount of Rs.6,96,000/-, the Tribunal is directed to release a sum of Rs.50,000/- to the mother of the victim, claimant - respondent No.6, Chothiben Gordhanbhai Chihla by accounts payee cheque, on proper verification.
Out of the balance amount of Rs.6,46,000/- a sum of Rs.2,00,000/- should be invested in the name of claimant-respondent No.4, minor Gitaben Ambaram Chihla, represented through her guardian and mother Subhalben Ambarambhai Chihla, in a Fixed Deposit during the minority of the said claimant. Interest accruing on the said fixed deposit shall be paid to the minor's guardian, Subhalben Ambarambhai Chihla, which shall be spent for education and maintenance of minor Gitaben Ambaram Chihla, respondent No.4. Upon becoming a major, the said amount of Rs.2,00,000/- shall be released to Gitaben Ambaram Chihla.
The balance amount of Rs.4,46,000/- should be equally divided among the other three claimants, viz. Respondents No.1, 2 and 3, which shall be paid to them by the Tribunal by accounts payee cheque, on proper verification.
The remaining principal amount of Rs.6,20,000/- as well as the entire interest deposited by the appellant before the Tribunal shall be invested in a Fixed Deposit with any nationalized Bank in the name of the original claimants for a period of five years which shall be renewed from time to time till the disposal of the First Appeal and the same will abide by the result of the appeal. The said Fixed Deposit Receipts shall be retained by the Nazir of the Tribunal.
This application stands allowed accordingly.
[BHASKAR BHATTACHARYA, ACTING C.J.] [J.B.PARDIWALA.
J.] mathew Top