Amendment granted. To be carried out forthwith.
Admit qua wrong assessment of income by the Tribunal at Rs. 2000/- per month instead of Rs. 1500/- and qua the joint and several liability of insurance company instead of 15%.
(K.S.
JHAVERI, J.) ORDER IN CIVIL APPLICATION
1. Rule returnable on 09.04.2012.
2. Heard the learned counsel for the parties. Even if the contention as raised by the learned advocate for the applicant is accepted, the claimants shall be entitled to compensation amount of Rs. 3,21,000/- .
3. In the meantime, ad-interim relief in terms of para 3 (A) is granted on condition that the applicant shall deposit the amount awarded by the Tribunal alongwith proportionate interest and costs before the returnable date.
4. Out of the amount deposited, 15% of the same being Rs. 48,150/- shall be invested in a Fixed Deposit alongwith proportionate interests and costs by the Tribunal in the name of Registry of the Tribunal by way of a fixed deposit with a nationalised bank initially for a period of three years and on maturity shall be renewed by one year at a time without any further orders in this regard till the disposal of the appeal. The interest accruing on the said deposit shall be paid to the claimants quarterly.
4.1 Out of the balance amount of 85%, the amount after deducting Rs. 191000/- from Rs. 272850/- which comes to Rs. 81,850/- alongwith proportionate interests and costs shall be allowed to be withdrawn by the original claimants.
4.2 Amount of Rs. 1,91,000/- shall be invested by the Tribunal in the name of Registry of the Tribunal by way of a fixed deposit with a nationalised bank initially for a period of three years and on maturity shall be renewed by one year at a time without any further orders in this regard till the disposal of the appeal. The interest accruing on the said deposit shall be paid quarterly to the claimants at the most for five years. Thereafter, the Fixed Deposit shall be allowed to be encashed by the claimants.
5. Both the Fixed Deposit Receipts shall be retained by the Tribunal.
(K.S. JHAVERI, J.) Divya// Top