Ramlal Nandlal Jain Chhoriya v. the Oriental Insurance Co. Ltd. and Others
Case brief
What is this about?
The court considered an application to withdraw a portion of funds deposited by an insurance company in court following a Motor Accident Claims Tribunal award while an appeal is pending.
What did the court decide?
The applicant withdrew Rs. 35 lakhs after undertaking to re-deposit the amount within twelve weeks if they succeed in the appeal. The balance was invested in a bank fixed deposit.