Authority: Supreme Court of India
Order Date: 15 July 2026
Case Overview
- Parties: Appellant – M/s Ponni Agro Industries Pvt Ltd; Respondents – M/s Bajaj Allianz General Insurance Co. Ltd. & others.
- The matter arose from IA No. 75048/2026 (stay application) filed in Civil Appeal No. 3390/2026, originally stemming from a complaint dated 17 April 2014.
- Counsel for the appellant included Mr. Anand Venkataramani and others; counsel for Respondent No. 1 (Ponni Agro) was Mr. K. Parameshwar, with additional counsel for other respondents.
- The Court, after hearing arguments, considered the records and determined the appropriate financial security.
Final Outcome
- The Court ordered the appellant to deposit Rs 69,00,000 (sixty‑nine lakh rupees) with simple interest at 6% calculated from 17 April 2014 up to the date of the order (15 July 2026).
- The deposited sum shall be placed in a short‑term fixed deposit with a nationalised bank.
- Respondent No. 1 – M/s Ponni Agro Industries Private Limited – is entitled to withdraw 50% of the deposited amount immediately without providing any security.
- The remaining 50% may be withdrawn only after the respondent furnishes a bank guarantee satisfactory to the Registrar of the Court.
- With these directions, the application is disposed of.
- The order was signed by Deputy Registrar Court Master Anita Malhotra and Manoj Kumar.
Topics: Legal Order, Insurance Dispute, Agricultural Company