Admit.
(K.S.
JHAVERI, J.) ORDER IN CIVIL APPLICATION
1. Rule returnable on 07.05.2012.
2. Heard the learned counsel for the applicant.
3. In the meantime, ad-interim relief in terms of para 5 (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 awarded by the Tribunal, an amount of Rs. 78,500/- 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 not be paid to anyone.
4.1 Out of the remaining amount of Rs. 4 lakhs, 70% of the same being Rs. 2,80,000/- shall be invested in a Fixed Deposit alongwith proportionate interests and costs by the Tribunal in the name of Registry of the Tribunal 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.
4.2 The balance amount of 30%, which comes to Rs. 1,20,000/- alongwith proportionate interests and costs shall be allowed to be withdrawn by the original claimants.
5. Both the Fixed Deposit Receipts shall be retained by the Tribunal.
(K.S. JHAVERI, J.) Divya// Top