Magma H.D.I. General Insurance Company Ltd. v. Krishna and 11 Others
Case brief
What is this about?
Allahabad High Court, FAFO No. 677 of 2026, decided 19 March 2026 by Piyush Agrawal, J. Magma H.D.I. General Insurance Company Ltd. v. Krishna and 11 others. Insurer's appeal admitted against MACT award dated 15.10.2025 (corrected 24.10.2025) in MACP No. 193/2021; conditional stay of award subject to deposit of entire decreetal amount with up-to-date interest within six weeks; 50% of deposit releasable to claimants without security, 50% invested in nationalized bank fixed deposit; automatic vacation on default; statutory deposit sent back to Tribunal. Counsel for appellant: Pawan Kumar Singh. Keywords: motor accident claim, stay of award, conditional deposit, FAFO, admission stage, interim order.
What did the court decide?
Appeal admitted and notice issued to respondents; operation and enforcement of the impugned award stayed until further orders, conditional on the appellant depositing the entire decreetal amount with up-to-date interest (after adjusting the statutory deposit) within six weeks before the Tribunal; on deposit, 50% of the deposited amount releasable to claimants without security in the Tribunal-directed ratio and 50% to be invested in a fixed-term interest-bearing nationalized bank account (initially two years, renewable); interim order to stand automatically vacated on non-compliance; statutory deposit to be sent back to the Tribunal for adjustment; lower court record to be summoned after deposit and disbursement.