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Judgment
Rule.
Learned counsel, Ms. R. Purkayastha waived Rule on behalf of the respondent-insurance company.
This application is filed by the original claimant, who had filed motor accident claim petition for compensation for the injuries received by him in a vehicular accident. The Claims Tribunal had awarded compensation of Rs.25,55,520/- to be paid with interest. By an order dated 30.09.2019 while admitting the appeal, the insurance company was directed to deposit 50% of the amount of compensation awarded by the Claims Tribunal with the Registry of the High Court. Subsequently, the appeal of insurance company was dismissed by a judgment dated 14.02.2020.
Learned counsel for the applicant submitted that in the award passed by the Claims Tribunal or in the judgment passed by the High Court, there is no direction for disbursement of the amount of compensation in favour of the claimant. The amount of 50% deposited by the insurance company is still lying with the Registry along with a sum of Rs.25,000/- which the insurance company had deposited while filing the appeal. He submitted that suitable amount may be released in favour of the claimant and the rest may be invested in any nationalized bank. He pointed out that the claimant was aged about 37 years at the time of accident and was employed in a bank.
Considering these aspects of the matter, the sum of Rs.25,000/- and a further amount of 50% of the sum deposited by the insurance company before this Court under the said interim order dated 30.09.2019 be paid over to the claimant through account payee cheque by the Registry. The remaining amount shall be transmitted to the concerned Claims Tribunal, who shall invest the same in any nationalized bank in a fixed deposit for a period of 5 years. As and when the insurance company deposits the remaining amount of compensation payable to the claimant, the same shall also likewise be invested by the Claims Tribunal. On both these investments, the claimant would be paid periodic interest accruing on such fixed deposits. Upon completion of period of 5 years and maturity of the fixed deposits, the same would be paid over to the claimant.
With these directions, the application is disposed of.