1 IN THE HIGH COURT OF JUDICATURE OF BOMBAY BENCH AT AURANGABAD CIVIL APPLICATION NO.9215 OF 2009 IN FIRST APPEAL NO.522 OF 2009 Shashikant s/o Suryakant Giri & another Applicants Versus United India Assurance Co.Ltd. & others Respondents Mr.E.P.Sawant, advocate for applicants. Mr.P.C.Mayure, advocate holding for Mr.S.G.Chapalgaonkar, advocate for Respondents No.1. Mr.A.B.Gaikwad, advocate for Respondents No.2 & 3. CORAM: R.M.BORDE, J. DATE : 25 th September, 2009. P.C.: 1 This is an application seeking withdrawal of amount deposited by Respondent-Insurance Company in this Court. 2 The Motor Accident Claims Tribunal, Beed, has passed an award thereby entitling the applicants-claimants to receive compensation of Rs. 3,50,000/- on account of accidental death of deceased son of applicant no.1. It is stated that Appellant-Insurance Company has deposited an amount of Rs. 3,53,375/- in this Court at the stage of admission of appeal. Applicants seek withdrawal of the amount deposited by Insurance Company in pursuance to the order passed by this Court. 3 It is stated by learned Counsel appearing for Insurance Company that the liability of Insurance Company would be limited for reimbursing the owner of the vehicle in respect of claim up to Rs.1,00,000/- in terms of the policy. 4 In this view of the matter, applicants can be permitted to withdraw an amount of Rs.1,00,000/- (Rs.One lac) on furnishing solvent security for the like 2 amount. The balance of amount shall be invested in Fixed Deposit in any Nationalised Bank initially for a period of three years. The Fixed Deposit Receipt shall be renewed after completion of period of three years for further period until disposal of the appeal. It is also clarified that stay of execution of award, as granted by this Court earlier, is restricted only to the extent of seeking execution as against Insurance Company only. Civil Application stands disposed of. (R.M.BORDE) JUDGE ******* adb/ca921509