KADARBHAI DOSTOMOHAMMADBHAI MAKRANI Vs. MANAGER, INDIAN BANK

JUDGEMENT

(1.) By way of this petition, the petitioner (claimant) has made a prayer to grant the amount from the Fixed Deposit Receipt which is lying in the name of the claimant with Indian Bank, Thoral Branch, Rajkot. The compensation amount as received towards the accident which the claimant suffered in a vehicular acicident, which has led to the amputation of the right leg from the hip.

(2.) Learned Advocate for the petitioner Mr. Nishit A. Bhalodi submitted that claimant himself was a driver but because of the accident could not pursue with his profession and his son had purchased a Bolero Mahindra vehicle by availing a loan. The loan was availed through finance from Mahindra Finance Limited and for that purpose the son is required to pay the loan amount of Rs.5,38,904.00 as on 31/12/2022. It is further submitted that at present, the recovery amount has increased and is now at Rs.6,75,400.00 and now the same would be even more, as the interest would have got added on. It is submitted that the amount is lying in the father's name, the family is facing a burden of the interest and hence, would like to make re-payment of the instalments to the financial institution towards the Mahindra Bolero vehicle, which provides the only source of income for the family. It is also submitted that inspite of having the amount in the name of the claimant, it is difficult to maintain the family from the income earned by plying the Mahindra Bolero and is also facing a situation that the loan repayment alongwith interest may exceed / cross the amount which is lying in the Fixed Deposit Receipt.

(3.) Heard learned Advocate for the petitioner and perused the records of the case. It appears that the learned Tribunal appears to have rejected the application on the premise that six months earlier, cash amount was granted and thus, the monthly installments could be paid from the same amount and even could be paid from the rent amount from plying of the Mahindra Bolero vehicle. As per the details, the son - Imityaz Kadarbhai Makrani had purchased a second hand Mahindra Bolero vehicle by availing a loan from Mahindra Financial Services and on 31/12/2022, the loan amount comes to Rs.5,38,904.00 and now, it is stated that the amount of Rs.6,75,400.00 is required to be paid towards the pending dues.