In a judgment delivered on September 17, a bench of Justices PS Narasimha and Alok Aradhe observed that the present system lacks uniformity and can lead to financial loss for litigantsHence, the bench opined that deposits made before different courts and tribunals could be brought under a unified scheme and invested in financial instruments that are most beneficial to the parties.
“This common platform will not only create certainty in the interest rates and increase the ease of accessibility for litigants but will also ease the burden on Courts/Tribunals regarding how this money deposited is to be invested and dealt with,” the Court said.
In a judgment delivered on September 17, a bench of Justices PS Narasimha and Alok Aradhe observed that the present system lacks uniformity and can lead to financial loss for litigants
Hence, the bench opined that deposits made before different courts and tribunals could be brought under a unified scheme and invested in financial instruments that are most beneficial to the parties.
“This common platform will not only create certainty in the interest rates and increase the ease of accessibility for litigants but will also ease the burden on Courts/Tribunals regarding how this money deposited is to be invested and dealt with,” the Court said.
