Hon'ble Yogesh Chandra Gupta,J.
Order on Appeal Admit.
Issue notice.
Notice will be issued to the respondents by Registered Post A.D. fixing the next date fixed in the matter.
Order on Stay Application Issue notice.
Notice will be issued to the respondents by Registered Post A.D. fixing the next date fixed in the matter.
Requisite steps will be taken within three weeks.
Heard on the question of grant of interim relief.
Having regard to the facts and circumstances of the case and having considered the submissions made by Shri S.K. Mehrotra, learned counsel for the appellant, it is directed that the operation of the impugned Award dated 13.05.2011 will remain stayed until further orders of the Court, provided within six weeks from today, the appellant deposits the entire amount awarded under the impugned Award together with interest thereon before the Motor Accidents Claims Tribunal, Etawah.
The amount so deposited by the appellant will be paid/invested as under:
(1) As regards the amount awarded respectively to each of the claimant/respondent Nos. 2, 3, 4, 5 and 7 under the impugned Award, the same will be invested as per the directions given by the Tribunal in the impugned Award.
(2) As regards the amount awarded to the claimant/respondent no.6 under the impugned Award, the same will be paid/invested as under:
(a) 50% of the amount awarded to the claimant/respondent no.6 under the impugned Award, will be paid to the claimant/respondent no.6 without furnishing any security.
(b) Balance 50% of the amount awarded to the claimant/respondent no.6 under the impugned Award, will be invested in maximum interest bearing Fixed Deposit in a Nationalized Bank, renewable from time to time, in the name of claimant/respondent no.6.
(3) As regards the amount awarded to the claimant/respondent no.1 under the impugned Award, the same will be paid/invested as under:
(a) Out of the amount awarded to the claimant/respondent no.1 under the impugned Award, Rs.1 lac will be paid to the claimant/respondent no.1 without furnishing any security.
(b) Balance amount awarded to the claimant/respondent no.1 under the impugned Award, will be invested in maximum interest bearing Fixed Deposits in a Nationalized Bank, renewable from time to time, in the name of claimant/respondent no.1.
The amounts invested in Fixed Deposits, as per the directions given above, will not be permitted to be withdrawn by the claimants/respondents without leave of this Court. However, 50% of the periodical interest accruing on such Fixed Deposits, will be permitted to be withdrawn by the concerned claimants/respondents, as and when the same accrues. Balance 50% of the periodical interest accruing on such Fixed Deposits, will continue to be reinvested in the respective Fixed Deposits.
The amount of Rs. 25,000/- deposited by the appellant while filing the present Appeal, will be remitted to the Tribunal for being adjusted towards the deposit to be made by the appellant, as directed above.
In the event of default on the part of the appellant in making the deposit as directed above, this interim order will stand automatically vacated.
Counter Affidavit and Rejoinder Affidavit may be exchanged between the parties by the next date fixed in the matter.
List on 14th December, 2011.
Order Date :- 19.7.2011 NS