1 wp2646.10.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO.2646 OF 2010 KJ Smt. Shantadevi R. Rai )....Petitioner Vs. Life Insurance Corporation of India & Anr. )....Respondents ---- Mr. Dilip N.Mandavia for the petitioner. Ms.Rupa Bhave i/by Bhave & Co. for respondent no.1. Mr.S.A.Ghaisas for respondent no.2. ---- CORAM : P.B.MAJMUDAR & MRS.MRIDULA BHATKAR,JJ DATE : 12.7.2011 PC 1 At the time of hearing of this matter, the petitioner and the concerned respondents have arrived at the settlement and it is agreed that out of the total amount, which respondent no.2 may receive from LIC, respondent no.2 may part with 30% in favour of the petitioner within two weeks from the date of the receipt of the 2 wp2646.10.sxw said amount. The consent terms duly signed by the parties as well as their respective Advocates are taken on record and marked “X” for identification. Parties are also present before the Court and they have been identified by the respective Advocates. Since interest of the minor is involved, learned Advocate for the petitioner assured that settlement is in favour of the interest of the minor. Accordingly, after receiving the amount from LIC, respondent no.2 shall part with 30% in favour of the petitioner, 35% of the amount will retain for herself and remaining 35% amount shall be invested in a fixed deposit in the joint name of respondent no.2 and the minor. The amount of the minor may not be withdrawn by the respondent no.2 till the minor attains majority or till appropriate orders obtain from the concerned Court in that behalf. The oral undertaking given by respondent no.2 that she will disburse the amount of 30% is recorded. The legal heirs of the deceased are entitled to receive remaining amount in 2nd installment. Respondent No.1- LIC will release the 2nd and last installment after few months which nominee will receive and shall disburse the said amount in the same apportionment as directed by 3 wp2646.10.sxw us in respect of the 1st installment. Consent terms are explained to the parties in Hindi by their respective Advocates. Parties to act accordingly. Petition disposed of. (MRS.MRIDULA BHATKAR,J) (P.B.MAJMUDAR,J)