HIRABHAI MANDANBHAI BHANDARI Vs. NATIONAL INSURANCE CO LTD

JUDGEMENT

(1.) Heard learned advocate for the applicants. Rule. Shri SB Parikh, learned advocate for the respondent no.1 waives service of notice of rule. With the consent of the advocates for the parties, this application is taken up for hearing.

(2.) The claimants / dependents have approached this Court for seeking appropriate orders in respect of disbursement of the amount deposited under the order of this Court. The main appeal is admitted being First Appeal No. 1270 of 2010. Looking to the peculiar facts & circumstances of the case, I am of the considered view that, instead of making usual order of disbursement of 30% amount, there be an order of depositing the entire amount in a nationalised bank so as to assuage of hardship faced by the claimants. At the same time, taking care of interest of the insurance company, it is submitted by learned advocates for the parties that original order for depositing amount was for a period of 9 months made vide order dated 11/5/2010, and the insurance company has already deposited the amount i.e. Rs.6,85,923/-. The said amount already deposited for a period of 9 months, shall now further be deposited in a scheme of nationalised bank, which shall provide periodical / quarterly interest so that the principal amount shall remain intact and interest accrued thereof could be disbursed in favour of the claimants quarterly.

(3.) It is hence ordered that the amount of Rs.6,85,923/- already deposited by the insurance company, as per the earlier order dated 11/5/2010, after the 9 months period is over, said amount shall be deposited initially for a period 5 (five) years, and if the appeal is not disposed of by then, the amount be further deposited till the First Appeal is heard & finally disposed of. The quarterly interest accrued on the deposit shall periodically be paid to the claimant No. 1,2, 4 & 5. The amount be deposited in the name of Nazir of the Claims Tribunal as well as the claimants. The insurance company will be at liberty to recover the interest amount so disbursed to the claimants from the insured Mr. Mukeshbhai Hirabhai Patel. Civil application is disposed of accordingly. Rule made absolute in above terms. No costs.