Reliance General Insurance Company Ltd v. Naresh Mandav & ORS

$~125 & 126 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ MAC.APP. 698/2017 & CM No.50833/2019 RELIANCE GENERAL INSURANCE COMPANY LTD ..... Appellant Through:

Ms.Prerna Mehta, Adv.

versus NARESH MANDAV & ORS ..... Respondents Through:

Mr.D.K. Sharma, Adv. for R-1 & 2.

+ MAC.APP. 729/2017 M/S MAHARAJA AUTOMOBILES (INDIA) PVT LTD & ANR ..... Appellants Through:

versus RELIANCE GENERAL INSURANCE COMPANY LIMITED & ORS ..... Respondents Through:

Ms.Prerna Mehta, Adv.

CORAM:

HON'BLE MR. JUSTICE J.R. MIDHA

O R D E R

% 24.01.2020 1.

The Claims Tribunal has deposited Rs.21,32,729/- with the Registrar General of this Court in terms of the order dated 25th November, 2019. 2.

The Registrar General of this Court is directed to disburse the aforesaid amount to the respondent nos.1 & 2 by instructing UCO Bank,

Delhi High Court Branch as under:- (i) Rs.18,00,000/- be kept in 100 FDRs of Rs.18,000/- each, in the joint names of Naresh Mandav and Narinder Singh, for the period 1 month to 100 months, respectively with cumulative interest. (ii) Balance amount, after keeping Rs.18,00,000/- in FDRs, be released to respondents No.1 and 2 by transferring the same to their joint savings bank account No. 37217971430 with State Bank of India, Mohan Garden Branch, IFSC Code: SBIN0051204.

(iii) All the original FDRs shall remain with UCO Bank, Delhi High Court Branch.

However, the statement containing FDR number, amount, date of maturity and maturity amount shall be furnished by UCO Bank to the respondents No.1 and 2.

(iv) The maturity amounts of the FDRs be released to respondents No.1 and 2 in his aforesaid joint savings bank account. (v) No loan or advance or pre-mature discharge shall be permitted without the permission of this Court.

(vi) State Bank of India, Mohan Garden Branch shall permit respondents No.1 and 2 to withdraw money from their joint savings bank account by means of a withdrawal form.

3.

List for reporting compliance on 17th April, 2020. 4.

Copy of this order be given dasti to counsel for the parties under signatures of the Court Master.

J.R. MIDHA, J.

JANUARY 24, 2020 aa