New India Assurance Co Ltd v. Pawan And ORS

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ MAC.APP. 828/2012 & CM APPL.8060/2020 NEW INDIA ASSURANCE CO LTD ..... Appellant Through:

versus PAWAN AND ORS ..... Respondents Through:

Mr.Shara Mehta, Mr.Tushar Mahajan, Advocates

CORAM:

HON'BLE MR. JUSTICE J.R. MIDHA

O R D E R

% 28.02.2020 1.

Mr.Ashish Sharma, Manager, UCO Bank, Delhi High Court Branch has produced the original FDR No.15530311146902 dated 07th October, 2019 for Rs.28,08,147/- in the name of Registrar General of this Court along with letter dated 28th February, 2020, according to which, the current value of the FDR is Rs.28,50,835/- 2.

The Registrar General of this Court is directed to discharge the aforesaid FDR and disburse the FDR amount to the claimants in the following manner:

(i) Rs.20 lakh be kept in 100 FDRs of Rs.20,000/- each in the name of Kavita for the period 1 month to 100 months respectively, with cumulative interest.

(ii) Rs.3 lakh be kept in FDR in the name of Master Subh Karan till he attains the majority with cumulative interest. Upon attaining majority, UCO Bank shall release the interest portion to Subh Karan by transferring the same to his savings bank account and the principal

amount of Rs.3 lakh be kept in 30 FDRs of Rs.10,000/- each in the name of Subh Karan for the period 1 month to 30 months respectively, with cumulative interest.

(iii) Rs.4,50,000/- be kept in FDR in the name of Master Ishant till he attains the majority with cumulative interest. Upon attaining majority, UCO Bank shall release the interest portion to Ishant by transferring the same to his savings bank account and the principal amount of Rs.4,50,000/- be kept in 30 FDRs of Rs.15,000/- each in the name of Ishant for the period 1 month to 30 months respectively, with cumulative interest.

(iv) The balance amount, after keeping Rs.27,50,000/- in FDRs, be transferred to the savings bank account of Kavita as mentioned below. 3.

All the original FDRs shall remain with UCO Bank, Prahladpur Bangar Branch. However, the statement containing FDR number, amount, date of maturity and maturity amount shall be furnished by UCO Bank to the claimants.

4.

The maturity amounts of all the FDRs be released to respective savings bank accounts of the beneficiaries within one week of the date of maturity. The particulars of the savings bank accounts of the three claimants are as under:

(i) Kavita Savings Bank A/c No.28670110031469 with UCO Bank, Prahladpur Bangar Branch IFSC Code: UCBA0002867 MICR Code: 110028080 (ii) Master Subh Karan Savings Bank A/c No.28670110031445 with UCO Bank, Prahladpur Bangar Branch IFSC Code: UCBA0002867 MICR Code: 110028080

(iii) Master Ishant Savings Bank A/c No.28670110031452 with UCO Bank, Prahladpur Bangar Branch IFSC Code: UCBA0002867 MICR Code: 110028080 5.

No loan or advance or pre-mature discharge shall be permitted without the permission of this Court.

6.

The bank shall permit claimants to withdraw money from their savings bank account by means of a withdrawal form only. 7.

List for reporting compliance of this order on 24th March, 2020. 8.

Copy of this order be given dasti to counsel for the claimant under the signature of the Court Master.

J.R. MIDHA, J.

FEBRUARY 28, 2020 dk