S. Sarathy v. The Managing Director

C.M.P.No.15551 of 2016 in C.M.A.No.1021 of 2015 N.KIRUBAKARAN,J This is a petition to withdraw 50% of the award amount together with the accrued interest now lying to the credit of M.C.O.P.No.2278 of 2006 on the file of the Motor Accidents claims Tribunal. 2.Heard Mr.M.A.Rua, learned counsel for the petitioner and Mr.K.J.Siva Kumar, learned counsel for the respondent. 3.The learned counsel for the respondent has no objection in allowing the petition.

4.Having been satisfied with the reasons stated in the affidavit filed in support of the above petition, this petition is ordered as prayed for.

5.Accordingly, the petitioner/claimant is permitted to withdraw 50% of the award amount together with interest without furnishing

N.KIRUBAKARAN,J cla security and the said amount shall be paid by the Tribunal, to the claimant, through RTGS, after getting the details of Bank Account from them. As regards the balance amount deposited, the Tribunal is directed to re-invest the same in any one of the Nationalised Banks, in Fixed Deposit, initially for a period of three years and thereafter, it can be renewed periodically till further orders from this Court. 28.04.2017 cla C.M.P.Nos.15551 of 2016 in C.M.A.No.1021 of 2015

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