Regional Manager, Bajaj Allianz General Insurance Co. Ltd., Thr. Branch Manager, Nagpur v. Jaipal S/O Tukaram Kumbhare and Others
Case brief
What is this about?
Withdrawal of deposited compensation amount with accrued interest; minor respondent No.2's share to remain in mutual funds till age of majority; prayer to switch to fixed deposit rejected; 40% share of respondent No.1-Jaipal released on usual undertaking; Registry to transfer within five weeks; Bajaj Alliance General Insurance Co. Ltd. thr. its Branch Manager v. Jaipal s/o Tukaram Kumbhare and another; High Court of Judicature at Bombay, Nagpur Bench; CAF No.2747 of 2025 in First Appeal No.736 of 2025; neutral citation 2025:BHC-NAG:7557; decided 04/08/2025 by Abhay J. Mantri, J.; advocates Ashwini Athalye (appellant), Aditi Timade h/f K.S. Motwani (respondents Nos. 1 and 2).
What did the court decide?
Respondent No.1-Jaipal permitted to withdraw his 40% share of the deposited amount with proportionate accrued interest on furnishing the usual undertaking; Registry directed to transfer that amount with accrued interest to his bank account within five weeks on furnishing undertaking and bank account details. Prayers concerning respondent No.2's share (withdrawal and investment in fixed deposit instead of mutual fund) rejected at this stage; application disposed of.