Allowed
Manisha Balkrishna Chitrkar v. Oriental Insurance Co. Ltd. Nad Othrs
Bombay HCCAF/4010/2009
Case brief
AI extract
What is this about?
A civil application by a widow was allowed to the extent of permitting withdrawal of 50% of insurance amounts deposited by the respondent Company, while the remaining 50% was directed to be invested in fixed deposit.
What did the court decide?
The applicants are permitted to withdraw 50% of the amount; the remaining 50% to be invested in fixed deposit of a nationalised bank for seven years with periodical interest paid to claimants.