Bajaj Allianz General Insurance Co. Ltd. v. Mr. Basuraj Hanumantha Nayak And ANR.

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO.1954 OF 2016 IN FIRST APPEAL NO.826 OF 2016 Bajaj Allianz General Insurance Co. Ltd.

.... Applicant.

V/s.

Bansuraj H Nayak and anr .... Respondents Mr. Devendranath Joshi, for the Applicant.

CORAM : DR. SHALINI PHANSALKAR-JOSHI, J.

DATE : 13TH OCTOBER, 2016.

P.C. :

1.

Not on board. Taken on today's board.

2.

This is an application seeking stay to the execution of the judgment and award dated 07.10.2015, passed by Motor Accident Claims Tribunal, Mumbai in MACP No.1789 of 2014.

3.

Learned counsel for the applicant makes a statement that the applicant is ready to deposit the entire decreetal amount in the Tribunal, within six weeks from the date of this order. Statement is accepted as undertaking.

3.

In view thereof, stay is granted to the execution and implementation of the award in terms of prayer clause (a) subject to condition that the applicant deposits the entire amount within a period of 1/2 p2 CAF 1954 OF 2016.doc

six weeks, in the Tribunal, from today.

4.

On applicant's depositing amount in the Tribunal, the Tribunal to invest the said amount in any nationalized bank, initially for a period of two years and thereafter to be renewed from time to time till disposal of the appeal. On applicant's failure to deposit the entire amount within the stipulated period, the stay granted shall stand vacated automatically and the application shall stand dismissed without further reference to this Court.

5.

Application is disposed of accordingly.

[DR. SHALINI PHANSALKAR-JOSHI, J.] 2/2 p2 CAF 1954 OF 2016.doc