AI Structured Summary
Not yet generated for this judgment
Judgment
P.L.J. Sharma, J.—The matter arises under the Motor Vehicles Act for compensation for the injuries sustained by the appellant. A compensation amount of Rs. 37,000/- was fixed by the Lok Adalat for the injuries sustained by the appellant. A compromise decree was also passed for the said amount. However, in the decree it was stated that the appellant was permitted to withdraw a sum of Rs. 7,000/- and the balance of the amount of Rs. 30,000/- was directed to be kept in fixed deposit in the State Bank of India. Questioning the direction of keeping the sum of Rs. 30,000/- in Fixed Deposit in the State Bank of India the appellant preferred this appeal.
It is contended before me that this direction is contrary to the Division Bench Judgment of this Court in CMP 8677/90 in CMA 906/90 and batch dt. 21.1.1992.
In view of the Division Bench Judgment of which I was a member I direct the appellant to open an account in any Nationalized Bank. A sum of Rs. 18,000/- out of Rs. 30,000/- shall be credited to his amount. The balance of the amount shall be kept in fixed deposit in State Bank of India for a period of thirty months. During the currency of the Fixed Deposit the interest accrued on the said amount shall be credited to the account of the appellant periodically every quarter. The fixed deposit shall not be encashed pledged or mortgaged during its currency.
The appeal is accordingly disposed of. No costs.