Heard the learned counsel for the applicant.
The applicant-Insurance Company is directed to deposit the entire decretal amount with the Tribunal with interest and costs within six weeks from today. The Tribunal is directed to invest 80% 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 Rest of the 20% of the amount is permitted to be withdrawn by the respondents-claimants by account payee cheque after proper verification subject to final result in the appeal.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 5(A) is granted. This Civil Application stands disposed of.
(ANANT S. DAVE, J.) (swamy) Top