SAMIRBHAI AHEMADBHAI PIJARA Vs. BARODA GUJARAT GRAMIN BANK

JUDGEMENT

(1.) Heard learned Advocate for the petitioner, who states that by way of settlement in the regular pursis, the parties had arrived at a settlement for the compensation amount of Rs.4,15,000.00 and accordingly, as per the terms of the settlement, the award was ordered to be drawn.

(2.) Learned Advocate Mr. Brahmbhatt on behalf of learned Advocate Mr. A.N. Kadri for the petitioner states that after passing the direction of deducting amount towards interim compensation, the learned Tribunal has further ordered for paying 40% of the compensation amount to the claimant by way of account payee cheque and 60% amount was ordered to be deposited in a Fixed Deposit Receipt for a period of 5 years with instructions to the Bank not to loan or make any further transactions regarding cash credit. However, the petitioner was made entitled to receive periodical interest.

(3.) Today, it is submitted that the claimant had made a prayer by moving M.A.C.M.A. on 27/12/2022 for premature withdrawal of the Fixed Deposit Receipt amount on the ground of marriage ceremony of his daughter, which is scheduled to commence from 12/3/2023. Learned Advocate Mr. Brahmbhatt has referred to the decision of the Hon'ble Apex Court in the case of A.V. Padma v. R. Venugopal reported in 2012 SCC 3 378.