Santoshi Venkatrao Chavan And ORS v. United India Insurance Co. Ltd. And ANR

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

BENCH AT AURANGABAD (1) CA NO.12870 OF 2016 928 CIVIL APPLICATION NO. 12870 OF 2016 IN FAST/15194/2016 SANTOSHI VENKATRAO CHAVAN AND ORS

VERSUS

UNITED INDIA INSURANCE CO. LTD. AND ANR ...

Advocate for Applicants : Mr.Narwadkar Mrigesh D. Mr. A.G.Kanade, Adv., for R/1.

...

CORAM : P.R. BORA, J.

Dated: September 23, 2016 ...

PER COURT :- 1.

Heard learned Counsel appearing for the applicants and learned Counsel appearing for respondent Insurance Company.

2.

Considering the averments made in the application for withdrawal of the deposited amount and having regard to the objections raised by the Insurance Company in exception to the impugned award, I deem it appropriate to pass the following order:

ORDER

1.

The application is partly allowed. The applicants are permitted to withdraw a sum of Rs.20,00,000/- ( Rs. Twenty lacs) from the deposited AGP/-

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

BENCH AT AURANGABAD (2) CA NO.12870 OF 2016 amount on submitting an undertaking that in the event any adverse order is passed, they will re-deposit amount so withdrawn by them within four months of passing of such order.

2.

The balance amount to be invested in a Fixed Deposit Receipt in any nationalized Bank initially for a period of three years and, if so required, for the further period till disposal of the appeal.

Civil Application (No.12870/2016) for withdrawal of amount stands disposed of.

( P.R. BORA, J. ) ...

AGP/-