ORDER IN FIRST APPEAL:
Having considered the submissions advanced by Mr. Shah learned advocate for the appellant so also considering the impugned judgment and award rendered by the tribunal, the appeal deserves consideration and hence, ADMITTED.
Mr. Modi learned advocate, Ms. Darji learned advocate and Mr. Prajapati learned advocate appear and waive service of notice of admission qua respondent nos.1 to 5, respondent no.6 and respondent no.7 respectively.
ORDER IN CIVIL APPLICATION:
1. Rule. Mr. Modi learned advocate appears and waives service of rule for respondent nos.1 to 5, Ms. HC-NIC Page 1 of 3 Created On Tue Mar 28 00:58:10 IST 2017 FA/3484/2012 2/3 ORDER Darji learned advocate appears and waives service of rule for respondent no.6 and Mr. Prajapati learned advocate appears and waives service of rule for respondent no.7.
2. I have taken into consideration the submissions advanced by Mr. Shah learned advocate for the applicant-Insurance Company so also learned advocates Mr. Modi, Ms. Darji and Mr. Prajapati for the respondents. Mr. Shah learned advocate for the applicant-Insurance Company assures that the entire awarded amount together with interest and costs, awarded by the Tribunal, shall be deposited with the concerned Claim Tribunal on or before 5th December, 2012. Upon such assurance being given, there shall be ad-interim stay in terms of Para-5(B).
3. Considering the facts and circumstances of the case so also considering the impugned judgment and award rendered by the Tribunal and considering the submissions advanced on behalf of both the sides, after the applicant-Insurance Company deposits the awarded amount as directed above, the Tribunal shall disburse 20% of the amount to the respondent nos.1 to 5 [original claimants] and remaining 80% amount shall be invested in FDR in a Nationalised Bank in the joint names of the respondent nos.1 to 5 [original claimants], initially, for a period of three years, which period shall be automatically extendable at the interval of every one year till the appeal is finally heard and decided. The respondent nos.1 to 5 [original claimants] shall be entitled to recover periodical HC-NIC Page 2 of 3 Created On Tue Mar 28 00:58:10 IST 2017 FA/3484/2012 3/3 ORDER interest thereon at the interval of every quarter. The original FDR shall be retained in the custody of Nazir of the Tribunal.
4. Accordingly, the instant application stands disposed of. Rule is made absolute. Mr. Modi learned advocate for the respondent nos.1 to 5 [original claimants] requests for direct service. Permission is granted.
(J.C.UPADHYAYA, J) aruna HC-NIC Page 3 of 3 Created On Tue Mar 28 00:58:10 IST 2017