Junaid Admani v. National Insurance Co. Ltd.,

903-MCAS-354-355-23.DOC Santosh

IN THE HIGH COURT OF BOMBAY AT GOA

MISC. CIVIL APPLICATIONS NO. 355 & 354 OF 2023 IN FIRST APPEALS NO. 66 & 68 OF 2017 JUNAID ADMANI ... Applicant.

Versus

NATIONAL INSURANCE CO. LTD. & OTHERS.

... Respondents.

Mr Ajit R. Kantak with Mr Raunak A. Kantak, Advocates for the Applicant.

CORAM :

M. S. SONAK, J.

DATE :

24th August 2023 P.C. :

1.

Heard Mr A.R. Kantak for the Applicant.

2.

Tese are applications for withdrawal of the compensation amounts. Mr Kantak presses for withdrawal of the entire deposited amount stating that the same is required for purchase of a shop premises from which the Applicant proposes to carry on business. 3.

Te Applicant is an young boy. Unfortunately, his parents died in a vehicular accident, almost 18 years ago. He is cared for by his uncles and aunts.

4.

Upto now, an amount of approximately 44.00 lakhs has been ₹ released in favour of the Applicant. In my judgment, at least, an amount of 50.00 lakhs should be retained in this Court as a ₹ cushion, given the vagaries of business and young age of the Applicant. Te Applicant's circumstance i.e. the unfortunate absence 24/08/23

903-MCAS-354-355-23.DOC of his parents, is also a relevant consideration. Te Applicant's uncles and aunts have, no doubt, taken care of his interest, which is quite appreciable. Still, retention of an amount of 50.00 lakhs, in this ₹ Court, for some years i.e. at least until the Applicant is settled in his business, appears prudent.

5.

Accordingly, the Registry to retain an amount of 50.00 lakhs, ₹ which should remain invested in a nationalized bank. Te balance amount, which will come to approximately 32.00 lakhs or ₹ thereabouts, can be released to the Applicant. 6.

Mr Kantak states that the Applicant's identity and bank details will be supplied to the Registry, so that the Registry can transfer this amount to the Applicant's account. Te Registry must retain 50.00 ₹ lakhs and continue with its investment in a nationalized bank. 7.

Both the applications are disposed of in the above terms. M. S. SONAK, J.

SANTOSH S MHAMAL Date: 2023.08.24 14:42:58 +05'30'

SANTOSH S MHAMAL 24/08/23