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HIGH COURT OF DELHI
Date of Decision: 08th December, 2016
RELIANCE GENERAL INSURANCE CO. LTD. ..... Appellant
Through: Ms. Suman Bagga, Mr.Pankaj Gupta, Advs.
Through: Mr. Anshuman Bal, Adv. for respondents no.1 to 5. along with respondent no.1 in person.
JUDGMENT
1. Respondent no.1 is present in Court along with her counsel and she submits that her elder daughter respondent no.2 is a divorcee and staying with her along with her minor child. She further submits that both her sons, namely, respondents’ no.3 and 5 are married. She further submits that respondent no.5 is staying with her. She further submits that respondent no.4 is also married and living with her husband.
2. The appellant has deposited the entire award amount with the been released and the balance 40% is lying with the Registrar General in fixed deposit. 2016:DHC:7922
3. The Registrar General is directed to disburse the balance award amount by instructing UCO Bank, Delhi High Court Branch to keep Rs.20,50,000/- in fixed deposit in the following manner: Sr. No. Duration of FDR Resp. 1 Widow FDR amount (Rs.) Resp. 2 Divorcee daughter (Rs.) Resp. 3 Son (Rs.) Resp. 4 Daughter (Rs.) Resp. 5 Son (Rs.)
1. 1 yr 85,000/- 60,000/- 40,000/- 40,000/- 40,000/-
2. 2 yrs 85,000/- 60,000/- 40,000/- 40,000/- 40,000/-
3. 3 yrs 85,000/- 60,000/- 40,000/- 40,000/- 40,000/-
4. 4 yrs 85,000/- 60,000/- 40,000/- 40,000/- 40,000/-
5. 5 yrs 85,000/- 60,000/- 40,000/- 40,000/- 40,000/-
6. 6 yrs 85,000/- 60,000/- - - -
7. 7 yrs 85,000/- 60,000/- - - -
8. 8 yrs 85,000/- 60,000/- - - -
9. 9 yrs 85,000/- 60,000/- - - -
10. 10 yrs 85,000/- 60,000/- - - - TOTAL 8,50,000/- 6,00,000/- 2,00,000/- 2,00,000/- 2,00,000/- GRAND TOTAL 20,50,000/-
4. UCO Bank shall release the balance amount, after issuing FDRs for Rs.20,50,000/- to respondents No.1 to 5 in equal shares by transferring the same to their individual savings bank accounts in UCO Bank, Delhi High Court Branch.
5. The monthly interest on all the FDRs shall be paid to respondents No.1 to 5 by transferring the said amount to their individual savings bank accounts.
6. At the time of maturity, the fixed deposit amount shall be automatically credited in the individual savings bank accounts of the claimants/beneficiaries.
7. Respondents no.1 to 5 shall open a savings bank account near the place of their residence and intimate the particulars of their savings bank account to UCO Bank, Delhi High Court Branch whereupon UCO Bank, Delhi High Court Branch shall transfer the monthly interest and the maturity amount of the FDRs to them by transferring the same to their savings bank accounts near the place of their residence
8. All the original FDRs shall be retained by UCO Bank, Delhi High Court Branch. However, the photocopies of the same shall be provided to the claimants/beneficiaries.
9. No cheque book or debit card be issued to the claimants/respondents without permission of this Court.
10. No loan or advance or pre-mature discharge shall be permitted without the permission of this Court.
11. UCO Bank, Delhi High Court Branch shall ensure that the savings bank accounts of respondents are individual accounts and not joint accounts.
12. Respondents are at liberty to approach this Court for release of further amount in case of any financial exigency.
13. Copy of this judgment be given dasti to counsel for the parties.
DECEMBER 08, 2016 dk J.R. MIDHA, J.