1 CA 1250/10 abs FARAD CONTINUATION IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO. 1250 OF 2010 IN FIRST APPEAL NO. 512 OF 2010 ------------------------------------------------------------------------------------------------------------------ Office Notes, Office Memoranda of Court's or Judge's Orders Coram, appearances, Court's Orders or directions and Registrar's Orders Mr. M.M. Sathaye for the applicant. Mr. Nilesh S. Patil for respondent nos.1 to 3. CORAM : D.G. KARNIK, J. DATE : 17TH FEBRUARY 2011 P.C. : 1. Heard learned counsel for the Parties. 2. This is an application for execution of an award passed by the Motor Accident Claims Tribunal. 3. Counsel for the applicant states that the entire amount of the award along with the interest and costs has been deposited in the 2 CA 1250/10 Tribunal. In the circumstances, stay for execution of the award can be granted. Considering the fact that one of the claimants (respondent no.3) is a minor, the entire amount cannot be allowed to be withdrawn. Hence, I pass the following order: (i) Execution of the award is stayed. However, the respondent nos.1 and 2 are permitted to withdraw a sum of Rs. 3,00,000/- (Rs.1,00,000/- by respondent no.1 and Rs.2,00,000/- by respondent no.2) by furnishing their personal bond for repayment in the event so ordered by the Court. (ii) The balance amount shall be invested by the Tribunal in a nationalised bank of the choice of the appellant company if such choice is indicated within a week hereof, failing which in any nationalised bank offering good rate of interest, initially for a period of not less than 13 months and not more than 37 months. The 3 CA 1250/10 amount shall be reinvested from time to time for a period not exceeding 37 months at a time till the disposal of the appeal or till the respondent no.3 attains the majority whichever is later. (iii) The interest earned on the balance deposited amount shall be paid to the respondent no.2 towards maintenance of the family including respondent no.3. (iv) Civil application is disposed of. (D.G. KARNIK, J.)