1 CA 4656/10 abs FARAD CONTINUATION IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO. 4656 OF 2010 IN FIRST APPEAL NO. 112 OF 2011 ------------------------------------------------------------------------------------------------------------------ Office Notes, Office Memoranda of Court's or Judge's Orders Coram, appearances, Court's Orders or directions and Registrar's Orders Mr. S.S. Vidyarthi for the applicant. Mr. T.J. Mendon for respondent nos.1 and 2. CORAM : D.G. KARNIK, J. DATE : 17TH FEBRUARY 2011 P.C. : 1. Heard learned counsel for the applicant and respondent nos.1 and 2 (original claimants). The respondent no.3 is the owner of the vehicle and hence notice to him of this application for stay of execution is dispensed with. 2. By this application, the applicant prays 2 CA 4656/10 for stay of execution of the award passed by the 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 Tribunal. In the circumstances, stay for execution of the award can be granted. Considering that the respondent no.2 is a minor and compensation of his share cannot be allowed to be withdrawn, and also considering the quantum of the amount awarded and the challenge thereto, in my view, it would be appropriate to permit the respondent no.1 – Neerada Suraj to withdraw Rs.15,00,000/- initially. Hence, I pass the following order: (i) Execution of the award is stayed. However, the respondent no.1 is permitted to withdraw a sum of Rs.15,00,000/- by furnishing a personal bond for repayment in the event so ordered by the Court. 3 CA 4656/10 (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 amount shall be reinvested from time to time for a period not exceeding 37 months at a time till the disposal of the appeal. (iii) Out of the interest earned on the balance deposited amount, 50% of the interest be paid to the respondent no.1 for the maintenance of herself and the respondent no.2 and the balance 50% of the interest be reinvested. (iv) Civil application is disposed of. (D.G. KARNIK, J.)