NEW INDIA ASSURANCE CO LTD - Petitioner(s) Versus KAILASH SHANKARRO UMBE & 1 - Respondent(s) ========================================================= Appearance :
MR HASMUKH THAKKER for Petitioner(s) : 1, MR AMIT C NANAVATI for Respondent(s) : 1, RULE NOT RECD BACK for Respondent(s) : 2, ========================================================= CORAM :
HONOURABLE MR.JUSTICE KS JHAVERI Date : 22/02/2012 ORAL COMMON ORDER
1. Heard learned counsel for the respective parties. Ad-interim relief granted earlier to continue as interim relief pending final disposal of the First Appeals. The learned counsel for the claimants state that 30% of the amount has been withdrawn by the claimants. Therefore, remaining 70% (seventy) amount shall be invested in Fixed Deposit with any nationalized bank, initially, for a period of one year, which shall be renewed from time to time, without any further orders in that regard from this Court. The quarterly interest accruing on such deposit shall be paid to the original claimants on regular basis. The FDR shall be retained by the 'Nazir' of the Tribunal concerned. Orders regarding disbursement of the above amount shall be passed at the time of final disposal of the first appeals.
2. The applications stand disposed of accordingly. Rule is made absolute to the above extent with no order as to costs.
First Appeals to be listed for hearing on 21.03.2012 after the admission Board.
[K.S.
JHAVERI, J.] /phalguni/ Top