The Manager, The New India Assurance Co. Ltd. v. Mr. P. Chandrahas A. Sanjiv Shetty And ORS.

(907) CAF 4451-16 Amk

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO. 4451 OF 2016 IN FIRST APPEAL (STAMP) NO. 28587 OF 2016 The Manager, The New India Assurance Co. Ltd.

.. Applicant/Appellant Vs.

Mr. P. Chandrahas A. Sanjiv Shetty & Ors.

.. Respondents Mr. D. R. Mahadik for the Applicant/Appellant. CORAM : DR. SHALINI PHANSALKAR-JOSHI, J.

DATE : 18 th OCTOBER, 2016.

P. C. :

1.

Heard learned counsel for the applicant.

2.

This is an application seeking stay to the execution of the Judgment and Award dated 31.08.2015 passed by the M.A.C.T., RaigadAlibag in M.A.C.P. No. 616 of 2009. 3.

Learned counsel for the applicant submits that the applicant is ready to deposit the entire amount of compensation as awarded by the Tribunal, within a period of eight weeks from today. The statement is accepted.

4.

In view thereof, the stay is granted to the execution of the impugned Judgment and Award, subject to the applicant depositing the entire amount of compensation, as awarded by the Tribunal, within a period of eight weeks from today in M.A.C.T., Raigad-Alibag in M.A.C.P. 1/2

(907) CAF 4451-16 No. 616 of 2009.

5.

On applicant 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 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 in this Court be also transferred to the M.A.C.T., Raigad-Alibag.

8.

The Civil Application is disposed of accordingly. [DR. SHALINI PHANSALKAR-JOSHI, J.] 2/2