Thursday, November 3, 2011

LIC to revise pension in four weeks : Rajasthan HC.



Rajasthan High Court today[02/11/11} granted four weeks time to LIC to comply with its earlier order directing the company to implement a November 2001 board decision to revise pension and dearness allowance of its retired employees.
Hearing a contempt petition, the single bench of Justice Mahesh Chandra Sharma directed the LIC to revise the pension and DA payable to its retired employees corresponding to the successive revisions of pay scales that took place in 1986, 1993, 1997, 2002 and 2007.

Counsel for LIC Ajay Tyagi prayed before the court to grant four weeks time to comply the order. The court, however, directed A K Das Gupta, Managing Director LIC and D Vijaylaxmi, Executive Director (personal) to remain present before it on December 1 in case the order is not complied with. The order came on a contempt petition filed by petitioner Krishan Murari Lal Asthan. The board resolution was passed to meet the demand of parity in pension raised by the All India Retired Insurance Employee's Association. Retired employees of LIC across the country are drawing pension based on the last pay at the time of their retirement. The "inaction" of the the LIC in implementing the board decision was challenged by Krishan Murari Lal Asthan, General Secretary of Retired Insurance Employees' Association of LIC. The LIC board did not implement the resolution on the ground that the Finance Ministry has not given its approval. Disposing of the writ petition filed by Asthana, single judge bench of Justice Munishwar Nath Bhandari in its order dated January 12, 2010 had asked LIC to take immediate steps to implement the resolution of LIC board and held, "In the present matter, there was no reason to seek approval of the central government". The SLP filed by the LIC was also dismissed by the Supreme Court and subsequently the division bench has also dismissed a review petition filed by LIC but still the order of High Court was not complied with.
Source : PTI

3 comments :

Shankar said...

This shows the blatant disrespect shown by LIC Management towards the order of courts in our country. If the court puts behind bars the top executives who are responsible for such acts, same situations may not be repeated in other organizations

TNR Nair said...

While the judgement will give relief to a section of the LIC retirees, similar instances also exist in other organisations. For eg. a section of SBI staff are denied higher pension arising out of wage revision and the matter is being handled in an extremely defiant manner by both SBI and Union Govt. This judgement is hoped to open the eyes of SBI management and Union Govt.

SANKARI said...

How soon it will be complied is to be seen.
Sankari

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