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The New India Assurance Co Ltd vs.umesh Tyagi & Ors - Court Judgment

LegalCrystal Citation
CourtDelhi High Court
Decided On
AppellantThe New India Assurance Co Ltd
RespondentUmesh Tyagi & Ors
Excerpt:
.....in fixed deposit be released to respondent no.1 by transferring the said amount to his savings bank account. the fdrs shall be paid to 7. respondent no.1 by transferring the said amount to the savings bank account.8. automatically credited in the claimant/beneficiary.9. at the time of maturity, the fixed deposit amount shall be the all the original fdrs shall be retained by uco bank, delhi the monthly interest on all savings bank account of mac. app.638/2016 page 2 of 3 or to the card be cheque book debit high court branch. however, the photocopies of the same shall be provided to the claimant/beneficiary. issued 10. no claimant/respondent no.1 without permission of this court.11. no loan or advance or pre-mature discharge shall be permitted without the permission of this court. the.....
Judgment:

$~16 * % + IN THE HIGH COURT OF DELHI AT NEW DELHI Date of Decision:

18. h October, 2016 MAC.APP. 638/2016 & CM No.29642/2016 (Stay) THE NEW INDIA ASSURANCE CO LTD ..... Appellant Through: Mr. J.P.N. Shahi, Advocate versus UMESH TYAGI & ORS ........ RESPONDENTS

Through: Mr. O.P. Mannie, Advocate for respondent No.1. CORAM: HON'BLE MR. JUSTICE J.R. MIDHA JUDGMENT (ORAL) The appellant has challenged the award of the Claims Tribunal 1. whereby compensation of Rs.5,24,930/- has been awarded to respondent No.1. The accident dated 3rd February 2014 resulted in fracture of 2. right elbow of respondent No.1. Respondent No.1 underwent two surgeries for closed reduction and wire fixation with hematoma evacuation. Respondent No.1 remained hospitalized on 14th February 2014 and again from 11th August 2014 to 12th August 2014. Respondent No.1 suffered 10% disability with respect to right upper limb. awarded compensation of Rs.5,24,930/- along with interest @ 12% per annum. The Claims Tribunal has MAC. APP.638/2016 Page 1 of 3 This Court is satisfied that Learned counsel for the appellant urged at the time of hearing 3. that compensation awarded is on a higher side. The second ground urged is that rate of interest be reduced from 12% to 9%. Respondent No.1 is present in Court along with his counsel and 4. the his condition has been seen. compensation awarded to respondent No.1 is just, fair and reasonable and it does not warrant any reduction. However, there is merit in the second contention urged by the learned counsel for the appellant that the rate of interest be reduced from 12% to 9%.

5. The appeal is partly allowed to the extent that the rate of interest on the award amount shall be 9% instead of 12%. However, the compensation of Rs.5,24,930/- is upheld.

6. The appellant has deposited Rs.6,43,492/- which includes interest @ 9% per month. UCO Bank, Delhi High Court branch is directed to keep a sum of Rs.5 Lacs in five fixed deposits of Rs.1 Lakh each for the periods 1 year, 2 year, 3 year, 4 year and 5 year. The balance amount, after keeping Rs.5 Lakh in fixed deposit be released to respondent No.1 by transferring the said amount to his savings bank account. the FDRs shall be paid to 7. respondent No.1 by transferring the said amount to the savings bank account.

8. automatically credited in the claimant/beneficiary.

9. At the time of maturity, the fixed deposit amount shall be the All the original FDRs shall be retained by UCO Bank, Delhi The monthly interest on all savings bank account of MAC. APP.638/2016 Page 2 of 3 or to the card be cheque book debit High Court Branch. However, the photocopies of the same shall be provided to the claimant/beneficiary. issued 10. No claimant/respondent No.1 without permission of this Court.

11. No loan or advance or pre-mature discharge shall be permitted without the permission of this Court. The claimant/respondent No.1 shall approach the UCO Bank for 12. completing the formalities for the disbursement of the award amount in terms of this order.

13. UCO Bank, Delhi High Court Branch shall ensure that the savings bank account of respondent No.1 is individual account and not joint account.

14. 15. CM296422016 is disposed of.

16. Copy of this judgment be given dasti to counsels for the parties under signatures of the Court Master. The statutory amount be refunded back to the appellant. OCTOBER18 2016 Aj J.R. MIDHA, J.

MAC. APP.638/2016 Page 3 of 3


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