NIAC Ltd. Vs. Niko Devi & Ors. FAO No. 275 of 2019 08.01.2025 Present: Mr. Kamakshi Tarlokta, Advocate for the appellant. Ms. Devyani Sharma, Senior Advocate with Mr. Anirudh Sharma, Advocate for respondents No.1 and 2. None for respondents No.3 and 4. CMP No. 24229 of 2024 The present application under Section 151 CPC has been maintained by applicants/respondents No.1 and 2, for release of the awarded amount, lying deposited in the Registry of this Court. The application is duly supported with affidavits of the applicants. Reply not filed despite opportunity granted to the non-applicant/appellant. However, the prayer made in the application has been opposed on the ground that in the event of appeal being allowed, it would be difficult for the Insurance Company to recover the amount, so released. Heard. Having perused the averments made in the application, which are duly supported with the affidavits of the applicants, this Court finds it in the interest of justice to release 30% of the awarded amount, in favour of each of the applicants/respondents No.1 & 2, as per their respective shares, along with up-to-date interest, which is lying deposited in the Registry of this Court, after proper verification and identification by remitting the same to their bank accounts, copies whereof have been annexed along with the application as Annexure-A(Colly). It is made clear that release of the awarded amount shall be subject to final outcome of the appeal and in the event of appeal being allowed, applicants/ respondents No. 1 & 2, will have to refund the amount, so released, with interest @ 6% per annum. The application stands disposed of. FAO No. 275 of 2019 List for hearing on admission after ensuing winter vacation. (Sushil Kukreja) January 08, 2025 Judge (VH/Sumit)