Icici Lombad General General Insurance Co. Ltd. v. Farin Kausar Shaikh Aabdi Kureshi and Others
Case brief
What is this about?
Interim orders in compensation appeal FA/2337/2025 (Aurangabad Bench, Sanjay A. Deshmukh J., 16-01-2026): stay of execution of impugned Tribunal judgment and award upon deposit of the entire amount in Court; partial release of deposited amount to claimant-applicants - 25% on usual undertaking plus 25% on solvent surety/security to the satisfaction of Registrar (Judicial), with accrued interest; Registry barred from insisting on surety property valuation; balance in fixed deposit in nationalized bank till appeal disposal. Respondent No.1 (ICICI Lombard General Insurance Co. Ltd) had opposed withdrawal citing exorbitant compensation. Applicants' counsel: Madhav Moreshwar Bhokarikar; Respondent No.1's counsel: Mohit R. Deshmukh. Companion applications: CA 12315/2025 and CA 9866/2025.
What did the court decide?
Stay granted to the impugned judgment and award till pendency of the appeal (stay application disposed of); withdrawal application partly allowed - applicants permitted to withdraw 25% of the deposited amount with accrued interest on usual undertaking and a further 25% with accrued interest on furnishing solvent surety/security to the satisfaction of the learned Registrar (Judicial); Registry not to insist on actual valuation of the surety's property; remaining amount to be kept in fixed deposit in a nationalized bank till disposal of the appeal.