J.R.MIDHA
MOHD RIZWAN – Appellant
Versus
UCO BANK – Respondent
J.R. MIDHA, J.
1. Vide award dated 12th May, 2016, the Claims Tribunal awarded Rs.22,90,495/- to the petitioner along with interest @ 9% per annum. The Claims Tribunal released Rs.20,495/- to the petitioner and directed the balance amount to be kept in four FDRs of equal amount for a period of 10 years.
2. The petitioner filed an application for release of Rs.7 lakh which was rejected by the Claims Tribunal vide order dated 15th September, 2016, which is under challenge in this petition.
3. The petitioner is present in Court along with his counsel and he submits that he has taken loan of more than Rs.8 lakh for his treatment. The particulars of the loan are given in the affidavit dated 01st October, 2016.
4. In New India Assurance Co. Ltd. v. Ganga Devi, (2010) 4 ACC 28, this Court directed the Claims Tribunals to consider releasing the award amount to the victims in a phased manner. The relevant para of the judgment is reproduced hereunder:-
“15. It was pointed out by the counsel for the claimants that the Claims Tribunals were passing directions for releasing part of the award
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