Jyoti Hiraman Katkar And ORS v. M/S. Shriram General Insurance Company Ltd, Jaypur (Rajasthan) Thr Its Branch Manager, A.Bad And Or

103 WM.odt

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

BENCH AT AURANGABAD 103 CIVIL APPLICATION NO. 15208 OF 2017 IN FA/3911/2017 JYOTI HIRAMAN KATKAR AND ORS

VERSUS

M/S. SHRIRAM GENERAL INSURANCE COMPANY LTD, JAYPUR (RAJASTHAN) THR ITS BRANCH MAN ...

Advocate for Applicants : Mr. Nagarkar Kiran M. Advocate for Respondent No. 1 : Mr. S.G. Chapalgoankar.

CORAM

: K. L. WADANE, J.

DATE :

18th December, 2017 ORDER:

1.

This is an application for withdrawal of amount of compensation deposited by the insurance company. 2.

Heard both sides.

3.

Learned counsel for the insurance company/ respondent No. 1 submits that the appeal is presented mainly on the ground of quantum and other grounds. Learned Tribunal has awarded compensation of Rs. 32,95,800/- together with interest @ 7% p.a.

4.

I have gone through the reasons recorded by the learned Tribunal. In view of the above, at present, the Award is in favour of the applicants, therefore, 1/2

103 WM.odt considering the grounds stated in the appeal-memo, at this stage applicants can be permitted to withdraw 50% amount of compensation together with interest out of total amount of compensation.

5.

Application for withdrawal of amount is allowed. 6.

Applicants are permitted to withdraw 50% amount of compensation together with accrued interest thereon on condition that if any adverse orders are passed in appeal, they shall redeposit the amount in this Court within a period of 12 weeks.

7.

Balance 50% amount shall be invested in any Nationalized Bank initially for a period of two years and thereafter shall be renewed from time to time as per orders of this Court.

8.

Civil Application is disposed of.

(K. L. WADANE, J.) mkd 2/2