The New India Assurance Co. Ltd. v. Smt. Manisha Avinash Thombre And ORS.
Dixit
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO.4211 OF 2016 IN FIRST APPEAL (STAMP) NO.26397 OF 2016 The New India Assurance Co. Ltd., Mumbai .... Applicant V/s.
Manisha Avinash Thombre & Ors.
.... Respondents Ms. Poonam Mital for the Applicant.
None for the Respondents.
CORAM : DR. SHALINI PHANSALKAR-JOSHI, J.
DATE : 27 TH SEPTEMBER 2016.
P.C. :
1.
Heard learned counsel for the applicant-Insurance Company. 2.
This is an application seeking stay to the effect, operation, execution and implementation of the Judgment and Award dated 4th May 2016 passed by the M.A.C.T., Pune in M.A.C.P. No.533 of 2014. 3.
It is submitted that the applicant-Insurance Company will be depositing compensation amount, as awarded by the Tribunal, within a period of twelve weeks from today. This statement is accepted as an undertaking given to the Court.
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4.
In view thereof, the Civil Application is allowed in terms of prayer clause (A), subject to the applicant-Insurance Company depositing compensation amount, as awarded by the Tribunal, within the stipulated time.
5.
On applicant-Insurance Company depositing the aforesaid amount in the Tribunal, the Tribunal is directed to invest the same in any Nationalized Bank, initially for a period of one year, to be renewed from time to time, till disposal of the First Appeal. 6.
On failure of the applicant-Insurance Company to deposit the said amount within the stipulated time, the stay granted by this Court shall automatically stand vacated, without further reference to the Court. 7.
The amount of Rs.25,000/- deposited by the applicant-Insurance Company in this Court is directed to be transferred to M.A.C.T., Pune in M.A.C.P. No.533 of 2014. M.A.C.T., Pune is directed to invest the said amount, along with the compensation amount, as stated above. 8.
Civil Application is disposed of accordingly. [DR. SHALINI PHANSALKAR-JOSHI, J.] 2/2 CAF-4211-16==.doc