:1: :1: :1: IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION GUARDIANSHIP PETITION NO. 144 OF 2004 In the matter of Guardians and Wards Act, 1890 Section 7 and 10 of the Act. AND In the matter of minor KARAN ISRANI AND MS. VARKHA ISRANI Mrs. Madhu Israni .. Petitioner. Ms. Shradha Hemdar i/b. Makhijia and co. for the petitioner. CORAM: S.U. KAMDAR, J. CORAM: S.U. KAMDAR, J. CORAM: S.U. KAMDAR, J. DATE : 12TH JANUARY, 2005. DATE : 12TH JANUARY, 2005. DATE : 12TH JANUARY, 2005. P.C : P.C : P.C : 1. The petitioner is the natural mother of the two minor children. The father has expired. There is an insurance claim in a sum of Rs.15624/- (U.S. dollar) approximately Rs.7,03,080/- of Alico Life Insurance Company situated at Sharjah, United Arab Emirates. The Alico Insurance Company is directed to deposit in this :2: :2: :2: court the insurance amount of the deceased with the Account officer, High Court, Bombay. The Accounts Officer is further directed to invest the said amount in fixed deposit of any nationalised bank initially for three years and renew the same further from time to time untill further orders of this court. The petitioner is empowered to give valid discharge in respect of the said insurance claims after the said amount is deposited in this court. The Account Officer, High Court, Bombay is directed to release the interest amount accrued at every six months from the aforesaid fixed deposit to the petitioner for upkeeping of the children. The petition is disposed of accordingly. sd/- **********