Mr. Thakker, Ld.
Advocate for the applicant Insurance Company submitted that the order dated 21/06/2012 has been complied with. In above view of the matter, ad-interim relief which was granted vide order dated 21/6/2012 in terms of para. 6 [A] is confirmed till the pendency and final disposal of the appeal.
Mr. Hakim, Ld.
Advocate for the respondent nos. 1, 2 and 3 - original claimants requests that the amount deposited by the applicant Insurance Company shall be disbursed to the respondent nos. 1, 2 and 3 in terms of the disbursement order passed by the Tribunal.
Considering the facts and circumstances of the case and having considered the submissions advanced on this point by the learned advocates representing both the sides, 20% of the amount deposited by the applicant - appellant Insurance Company shall be disbursed by the concerned Tribunal in equal proportion to the respondent nos. 1, 2 and 3 by the account payee cheque. The remaining 80% amount shall be invested by the Tribunal in any nationalized bank in the Fixed Deposits in the names of the respondent nos. 1, 2 and 3, initially for the period of three years, which period shall be automatically extendable at the interval of every one year till the appeal is finally decided and the respondent nos. 1, 2 and 3 shall be entitled to receive periodical interest thereon at the interval of every quarter. Original FDRs shall be retained in the custody of Nazir of the Tribunal.
Civil Application accordingly stands disposed of. Rule is made absolute.
(J.C.UPADHYAYA, J.) * Pansala.
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