United India Insurance Companylimited vs Bhanubhai Narsinhbhai on 4 February, 2013
In the light of the law
laid down by the Supreme Court in the case of NATIONAL INSURANCE CO.
LTD. vs. SAVITRI DEVI AND OTHERS reported in 2012 (4) SCALE 111, the
appeals are allowed. It is declared that the appellant-Insurance
Company is not liable to satisfy the impugned award passed by the
Tribunal. However, it is clarified that if any amount has already
been paid to the claimants either pursuant to the permission to
withdraw a portion of the amount deposited or permission to withdraw
interest arising out of the fixed deposits, the same shall not be
recovered from the claimants. However, the amount lying in the Fixed
Deposit, along with accrued interest, if any, is ordered to be
refunded to the appellant-Insurance Company. If any amount deposited
by the appellant pursuant to the order passed by this court pursuant
to the imposed condition of stay, is lying with the Registrar of this
Court, the same is also directed to be forthwith transmitted to the
Tribunal and such amount shall also be refunded to the
appellant-Insurance Company.