Revered,Respected & Distinguished LIC Board Member,
We, the aged pensioners, wish to place before your goodself ,the problems faced by pensioners & a brief history of the legal cases in Courts & Supreme Court,with useful background material,as also a Summary & Synopsis to enable you to appreciate the genuine issues confronting pensioners fraternity & to seek your blessings & intervention as an eminent LIC Board Member to crystallize correct, impartial & neutral decision.
1)MOU dt 14/1/1994 between LIC & Unions clearly & explicitly says ''SAME DR FOR PENSIONERS ,AS SAME DA FOR EMPLOYEES' It is on record. There cannot & should not exist any restrictive process or provisions ,nullifying better benefits,allowed for others but denied to the pensioners.
2)a)Here is the important & crucial line in the Note prepared by EDP paving the way for the Board Resolution dt 24/11/2001, as a result of a query raised by Dr Ram Khanna,then independent LIC Board Member , after our 110 minutes meeting with then LIC Chairman Sri G.N.Bajpai, in August 2001, "it may be mentioned that such a provision to upgrade the pension due to periodic revision in case of Central Govt employees is incorporated in the Central Civil Services(Pension) Rules, on the basis of which LIC of India (Employees ) Pension Rules 1995 have been drafted.
b)Further, it is to be borne in mind that LIC itself ,in its SECRET letterdt 31/12/2001 to then Joint Secretary,MOF,Sri Ajit Sharan, secured under RTI & 11/8/2003, to MOF/UOI state clearly "there is an urgent need to rationalize the DR structure available to different groups of pensioners in order to reduce the administrative inconvenience & also to see that different generations of pensioners are protected by merging the pension to a suitable index. " This clinches the issue of successive pension revisions with every wage revision. It stretches & goes beyond Board Resolution to capture full & continuous pension revision at CPI 600,1148, 1740, 2328,2994.
It is also added " Central Civil Services (Pension)Rules ,on which LIC (Employees) Pension rules has been broadly designed, contains such an upgradation formula corresponding to revisions effected for Central Govt Employees "
3)Nakara SC 5-Judge Constitution Bench presided by Hon CJ Y.V.Chandrachud in D.S.Nakara vS UOI , regarded as the MagnaCarta for Pensioners,cleared the air & categorically asserted 'by introducing an arbitrary eligibility criteria & thereby dividing a homogeneous class,violates Article 14 & 16 of the Constitution &is unconstitutional' " Pension is neither a bounty nor a matter of grace depending on the sweet will of the employer. It is not an exgratia payment, but it is a deferred wage for the past services rendered by him------- Pension is their statutory,inalienable & legally enforceable right.It has been earned by the sweat of their brow. As such.it should be fixed, revised, modified & changed in ways ,not entirely dissimilar to the salaries granted to serving employees"
4) Basic Pension unchanged & static right from 1/11/ 1993 ,a long long 21 yrs !! is unthinkable,it will be a travesty of justice,building up, perplexing anamolies, glaring discrepancies & unbridgeable paradoxes, 8/9 cadres below,a Peon getting more pension than pre-8/1997 ED & so,has to be addressed & redressed,by LIC. It is an anachronism that LIC pensioners still continue in pre-1995 IV Pay Commission mode. But in spite of our followup for several years,with LIC & MOF/UOI, as nothing came out in the form of a solution,we had to resort to Courts alone & so came the Umbrella judgement of Rajasthan, Jaipur HC by SJ Hon Bhandari dt 12/1/2010 conferring twin benefits of pension revision with every wage revision to all pensioners & Full DR to pre-8/1997pensioners ,as being paid for Employees & eliminate discrimination as post 8/97 pensioners were paid Full DR.
5) National Litigation Policy now more than 5 yr old , Govt shd not be a compulsive litigant & especially in Sr Citizens,pension/retirement benefits ,no Appeals be made as a conscientitious policy to be made a reality.Yet, LIC & Govt go in for Appeal, Review & SLP.This new dispensation under Hon Narendra Modi,PM is serious about implementation of this policy & they want to honour the commitment made,as is made out by the Law Minister.
6)Hon Judge(Retd) VRKrishna Iyer,Bishma Pitha of legal jurisprudence,99-year youngagenarian, ,who recently passed away,sent a letter dt 17 July 2010 to then FM Sri Pranab Mukherjee, after I took up the matter with him,& in his inimitable language thundered, after affirming 'the pathetic condition of a class of people arbitrarily alienated from the beneficial stream of pensioners,it 'is a clear,distinct, blatant violation of Articles 14,16 & 21 of Constitution.& added,'LIC pensioners are one integral group & cannot be divided into different classes.Date is an irrelevant factor when alteration in pension is made.' 'What is discriminatory is arbitrary & what is arbitrary is unconstitutional.'
SC & HIGH COURTS never sacrifice the hallowed & time-tested principle of equality & equity & detest any trace of discrimination .
7)Even if outlay did not figure at all in LIC submissions, ,such real figures will bring truth about this laudable, stable solid, solvent institution,a Rock of Gibralter & an undeclared Navarathna & also more particularly, when demands of pensioners are so realistic & modest .
a)Surplus 5 % to Govt Rs 830cr,929cr, 1031cr for 2007/08, 2008/09 & 2009/10,Rs1138cr in 2010/11 & Rs1282cr in 2011/12. & Rs1435cr in 2013-14.
b) LIC paid advance IT of Rs5119 cr as against Rs4324cr for FY 2012—13
Service tax paid is Rs4022.4 cr ,provisional ,as against Rs3682.6 cr for FY2012—13
IT Appellate Tribunal,Mumbai has given the judgement in favour of LIC for AY2007-08, 2008—09, & 2009-10,LIC received refund of Rs 4190.2 cr for AY 2007-08,& 2009-10 on 31/12/2013 .
Refund for AY 2008-09 of Rs 9000cr app is expected shortly.
c)Surplus last 15 yrs alone,LIC paid to Govt crossed Rs10,000 cr ,a Kamadhenu indeed, & all on a mere Rs5cr given by Govt on 1/9/1956
d)5-Year Plans ,People money for People Welfare,tremendous fillip given by LIC to Nation & citizen's welfare. For FY2013—14,Investments of LIC rose by 41% to Rs 278,340.7 cr ,provisional, as against Rs196,828.4 cr in FY 2012-13
e) LIC an Economic Tajmahal,all parameters are staggering. For FY 2013—14,TPI stood at 2,40,040cr ,a growth of 15.1%,
Investment,rental & other income Rs1,45,461 cr,growth of 16.3%,
Total Income is pegged at Rs 3,85,501 cr ,growth 18.1%.
Total Expenses of Management Rs34,447 cr,showing a rise of 9.4%
f) WHAT AN ENTITY, IN FACT ALL CONSTITUENTS OF SUCH EMINENT INSTNS MUST HAVE ALL BENEFITS, PERKS MUCH MUCH HIGHER FOR THE OUTSTANDING PERFORMANCE.
8) GOVT REGULAR PENSION is far far HIGHER THAN LIC. Many are not aware that even Govt Family Pension is higher than LIC Regular pension.
VI Pay Commission also added value rightly, increased % of pension at ages 80,85,90,95 & 100 years to the tune of 20,30,40,50 &100% ,which we don't secure & that demonstrated empathy towards Elders of Govt
9)A)i) Outlay needed is not even the tail of the Wage agreement PLLI or the tail of the Meal Coupon gift on September Anniversary 2010 or a tail of other Allowances other than DA, HRA, CCA given to employees. There should not be a miserly, lackadaisical treatment meted out to diminishing tribe of pensioners ,who brought name,fame & reputation to the Institution. Board consent was secured last year, tho PLLI norms were not met & employees got benefit , even if not qualified. Why not this magnanimity be exhibited towards lesser mortals like pensioners, who richly deserve more. Similar such outlay can well go to grant pension upgradation & to augment pensioners welfare
ii) The number of pensioners stood at 38,200 in 2006-07,38434 in 2007-08 & 43,043 in 2010-11. It is just 1907 pensioners only per Year added All India,app 238 perZone.
B)TOTAL OPERATING EXPENSES & EMPLOYEES REMUNERATION & WELFARE EXPENSES.
I extracted from LIC performance as at 31/3/2011 from website & audited accounts
a)TOTAL OPERATING EXPENSES--31/3/2010 :RS12,246CR: RS422CR PENSION PYTS 3.45% only
--31/3/2011 :RS16,980cr: RS497CR PENSION PYTS 2.93% only
b)EMPLOYEES REMUNERATION & WELFARE EXPENSES:(inclusive of Employees & Pensioners)
31/3/2010 :Rs8053 CR:RS422CR PENSIONPYTS 5.24% only
31/3/2011:Rs12,055cr:497cr PENSION PYTS 4.12% only
10) While inaugurating 300 Mini-Offices of LIC,which was a Budget action , then FM Sri P.Chidambaram said,'the performance figures of LIC give an indication why LIC is dear to us.LIC is a jewel in our crown.& we will continue to nurture LIC. LIC is not only a market leader,but also a market maker.the 3 letter LIC stand as a synonym for insurance,for excellence in strengthening the economic fibre of this country.I dare to say that no other 3 letters taken together are more recognised in the length & breadth of india.I am proud of what LIC has achieved in 57 years,but as long as there are uninsured people,the task of LIC is not over.' Sri Arun Jaitley,present FM ,when he visited "Yogakshema" on 9th January,2015,observed, 'the Country depends on LIC to a great extent. LIC is a Role Model of how a state sector instrument can,while maintaining arm's length distance,take prudent commercial decisions and LIC has done exceedingly well.The Market is going to be more competitive and the 'Best of LIC' is yet to come .'
SHOULD NOT LIC NOW HONOUR COURT VERDICTS, one by one,,all of which has come only in PENSIONERS FAVOUR?
11) When all promises are kept, when LIC has donned such a powerful & instrumental role in nation's economy, helped Govt to stabilise stock markets, lent tremendous assistance by way of Social Security for Aam Admi, inclusive growth & above all such a sterling contribution to Govt 5Yr Plans,Peoples Money for Peoples Welfare, in almost all sectors of people & society & nation development,& when Pensioners for long yrs 35 & more have done yeoman service & built Foundation, erected fine Superstructure, ably galvanised with Reorganisation in the 80s ,made the institution bear intense COMPETITION WITH CONFIDENCE & COURAGE,such a Paltry pension, not befitting on the institution for no fault of pensioners. EVEN with all these facts, figures , reason & logic, public tribute & standing,innumerable Awards, unqualified praise from FM & PM, it is disturbing that Pensioners should be treated so bad , unwept,unhonoured & unsung. No amendment in the Pension Rules is required because there is no provision in the LICPension Rules 1995 that pension will never be revised
12) More than 14 years,money,labour, energy,inconveniences, delay, adjournments, court rules & procedures,adverse health,sacrifices,are being silently borne by pensioners,activists straining to maximum even in adversity. We shed tears for those who died in thousands all these years.Family Pensioners have crossed 15,000 out of total 47,000 pensioners app. FP % to RP-Regular Pensioners has jumped from 17 % to 38 %,sad indeed. Lack of money power,lung power,muscle power,political power,must be compensated & addressed only by High Courts & Supreme Court.
Facts are clear as crystal, reason & logic of demands are powerful, no one can deny discrimination, decades have rolled by, none to wipe the tears, demands are modest & legitimate,Court victories are galore & successive, one after another.
13)a) SJ Hon Justice Bhandari's judgement dt 12/1/2010 was allowing both the writs 6696/1998 pertaining to Full DR & 654/2007exclusively on pension upgradation.
It also means that Hon SJ has gone through the submissions by both Counsels & quoting relevant portions & arguments came to definite conclusions and issues orders covering both the issues affecting pensioners. Pension revision with successive wage revisions have been upheld conspicuously & unambiguously
Jaipur Single judge Hon Bhandari in his order has observed as follows:
"Learned counsel for petitioners has further submitted that there exists anomaly even in regard to the revision of the pay scale. The benefit of revision in the pay scale from time to time was not extended to the pensioners. In view of aforesaid, even an officer retiring in the higher pay scale started getting less pension than to the employee retiring subsequently in lower pay scale. Aforesaid aspect was also considered along with the first issue, by the Board in its meeting held on 24.11.2001
b) Hon'ble Rajasthan High Court has held that, on the basis of date of retirement, there cannot be any discrimination between the Pensioners interse. All pensioners are entitled to revision of pensions as and when pay scales are revised. The decision of the Board taken in its meeting dated 24/11/2001 but not implemented on account of misnomer of approval of the Central Government, has been directed to be implemented with the above modifications.
14) While dismissing the appeal of LIC 493/2010 on 21/1/2011, the HC Division Bench of Jaipur observed as follows: 'The Board of LIC, who is the appellant before us against the judgment of the learned Single Judge, had itself taken a decision to remove the disparities and the discrimination with regard to the payment of Dearness Allowance and pension to the retired employees under its Resolution of the Board dt. 24.11.2001. It could not and should not have filed the present appeal against the judgment of the learned Single Judge as the learned Single Judge has provided an umbrella to the appellant for the implementation of the decision of the Board dt. 24.11.2001 on the categorical statement made by the learned counsel appearing on behalf of the Union of India and not assailed in appeal by the Union of India."
15) Then again LIC went in for Writ Review 86 & 87/2011 which was also dismissed on 19/8/2011 by DB JAIPUR HC
16) Then Hon Finance Minister Sri Pranab Mukerjee ,on 5th Nov,2011, after going through our Memorandum of United Forum of Insurance In service &Pensioners Fedns and listening to our submission, seems to be convinced on Oscar Fernandez ,MP & GS,AICWC suggestion & observed that as LIC is 100% owned by Govt. of India, all benefit available to Govt. employees on pension front be extended to LIC pensioners too.
17)SC Bench on 17/10/2012 issued a clarificatory order re. the amount due to the pensioners ie writ petitioners wef the date of their eligibility to get retiral benefits. Further CCP 760/2010 is in relation to WP 654/2007 on pension upgradation only in Jaipur HC .SJ Hon Bhandaris judgement has to be honoured in letter & spirit. Difference in Pension & DR is what is referred to & that from the date of retirement.
18)i) The Punjab & Haryana High Court decided the writ Petition vide its judgment dated 9th November, 2012 wholly in terms of the judgment passed in the cases of Krishna Murari Lal Asthana by Rajasthan High Court and has granted interest on arrears also. Life Insurance Corporation of India had filed S.L.P. against this judgment of Punjab & Haryana High Court dated 9th November, 2012. The said S.L.Ps also came up for hearing and therein also the Hon'ble Supreme Court has specifically rejected grant of stay vide order dated 8th August, 2013.
ii) That not only a writ petition was also filed in Delhi High Court which was decided vide its judgment dated 30th January, 2013 by the Hon'ble Delhi High Court and the same relief was allowed in this writ petition based on the judgments of the Rajasthan High Court
That the Hon'ble Delhi High Court has made the judgment to be applicable "in rem" therefore, all the retired employees of Life Insurance Corporation of India wherever they may be stationed are entitled to get the benefit of the aforesaid judgment irrespective of whether they were parties in person before this Hon'ble Court or before the Punjab and Haryana High Court or before the Delhi High Court for that matter.
19)i)The Hon'ble Supreme Court has vide its judgment dated 8th August, 2013 dismissed LIC's two Special Leave Petition Nos. 29956 and 29957 of 2011
ii) The Proceedings dt 30 Sep,2013 SC Bench observed:
''There shall be no stay of the directions given by the learned Single Judge vide Order dated 12.01.2010 passed in S.B.C.W.P. No 6676 of 1998 and connected matter''
Connected matter refers to 654/2007 on pension upgradation & Chandigarh HC & Delhi HC judgements as above
20)i) Hon Chief Justice, SC SriR.M.Lodha who laid down office on 26 Sep, 2014 in a historic 5- Judge SC Bench ruling upheld OROP for Armed Forces & even when UOI tried to stick to 9/2012 as effective date, series of all Petitions, SLP, CA, Curative petitions were summarily dismissed admonishing CG & ordering them to implement from 6th PC date 1/1/2006.Not only Defence Minister accepted ,after ascertaining implications & modalities,but Govt has categorically asserted enough provision & sanction is being obtained.
ii)Course of legal processes meandered through with many delays, adjournments,SC Bench condoning inordinate delay by LIC of 6 months 14 days,resulted in fresh Civil Appeals(CAs) & in spite of Mention made by pensioners ,though Hon SC Bench agreed to hear early,yet matter was delayed & atlast SC Bench Hon Dipak Mishra &Hon Prafulla Pant will hear the CAs on 14 March, 2015
21) From the point of view of Transparent Corporate Governance being emphasized by Govt & Regulatory Bodies,Board Members,as Opinion Leaders in their own right,with an etched public record multi-dimensional in nature,have an all-important critical role to play to subscribe,analyse the basis of decision, clarify their views, submit their final recommendation & correct an erroneous decision.They should be the harbingers of a
neutral unbiased decision, shorn of any imposition of externalities, especially the powers that be,& which must become a permanent feature.In this context,we should heartily welcome MOF Circular dt 5th January, 2015 to CEOs of all PSBs,Financial Institutions/
Insurance companies giving assurance of freedom of non-interference on commercial decisions as well as in Personnel matters
22) Please extend a helping hand .We pensioners count on your grace & magnanimity.
The hands that work are holier than the lips that pray.
Sir, we all put in devoted & dedicated work to weave & create such a world marvel.
We were 24 hours servant & we turned to be 24-carat employees &executives.Bless us & allow us to be blissful, in the twilight years of our lives.
23)Social justice & empowerment to Seniors demand lot of suave,empathetic decisions in their favour. As an institution of national pride, par excellence in performance & earning encomiums from PM, FM & all quarters, it will be in the fitness of things ,that this Jaipur judgement dt 12/1/2010 is honoured in letter & spirit. The benefits flowing out of the same must be dutifully, magnanimously & honourably be allowed to flow by graceful acceptance & implementation of Hon SJ Bhandaris judgement which will bring everlasting goodwill & reputation to this great,gigantic institution, & also resolving a long-pending issue in favour of pensioners amicably.
Then & then only, like the LIC Board Resolution of 24/11/2001, borne out of Dr Ram Khanna's salutary intervention, this Distinguished Board too would have rendered great value & justice by bringing it to its logical conclusion ,to the deserving,old,older,oldest pensioners awaiting a favourable decision, without negating the tone & tenor of the verdict, that too after 14 years of restlessness & frustration, moreso when thousands of pensioners have died.
We pensioners from all over the country can then regard you as the Saviours & Protectors of the welfare& progress of pensioners & shall cherish this salutary act of yours for ever in our lives.
Yours sincerely,
R.B.KISHORE,ED(Retd),LIC
VP, All India Retired Insurance Employees'Federation(AIRIEF)
044-2815 5810: 098403 40591 TO: Hon LIC BOARD MEMBER
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SYNOPSIS & SUMMARY OF PENSIONERS PROBLEMS & COURT CASES & SIGNIFICANCE
1)MOU dt 14/1/1994 between LIC & Unions clearly & explicitly says ''SAME DR FOR PENSIONERS ,AS SAME DA FOR EMPLOYEES', whereas pre-8/1997 pensioners DR is halved
2)LIC BOARD Resolution dt 24/11/2001 .the foundation & pillar for Pension upgradation with FULL DR, same as that for Employees
b)LIC in its letter dt 31/12/2001 to then JS,MOF/UOI, 'need to rationalize the DR structure available to different groups of pensioners in order to reduce the administrative inconvenience & also to see that different generations of pensioners are protected by merging the pension to a suitable index.'—,also on 12/8/2003 ,so successive pension revisions at CPIndex 600,1148, 1740, 2328,2994
3)Nakara SC 5-JudgeConstitution Bench:don't introduce arbitrary criteria,don't divide homogeneous pensioners class
"As such pension should be fixed, revised, modified & changed in ways ,not entirely dissimilar to the salaries granted to serving employees"
4)Basic pension unchanged ever since 1/11/1993.LIC pensioners still in pre-1995 IV Pay Commn mode, sad & depressing
5)National Litigation Policy—Sr Citizens, pension, retirement cases .Govt/Instns not to be compulsive litigants
6)Hon Sr Judge(Retd )V.R.Krishna Iyer:arbitrarily alienated from the beneficial stream of pensioners, LIC pensioners are one integral group,:what is discriminatory is arbitrary & what is arbitrary is unconstitutional '
7)Even if outlay did not figure in LIC submissions, from any angle of :Surplus, Taxes to Govt, 5 year plan contribution,assets, Life Fund, Total Income ,staggering, Economic Tajmahal indeed.Actually , employees/pensioners must be more than rewarded,even without asking. Govt RP is far higher than LIC RP & Govt FP itself is higher than LIC RP. VI PC also added value to pension by significant % at age 80.85,90, 95 & 100 years,not for LIC pensioners.
8)Outlay is not even the tail of wage agreement PLLI or tail of Meal coupon wef 1/9/2010 for employees, or tail of allowances other than usual DA,HRA, CCA.Discretion used for toning down approved formula diluted for employees& Board sanction obtained. BUT pensioners deserve such kindness & empathy more abundantly.
9)Ratio of pension payments to Total operating expenses & employees remuneration& welfare expenses very low 2.93% only
Ratio to ONLY total operating expenses also low at 4.12%only
How modest & realistic pensioners sincere demand for pension revision with wage revision & Full DR to pre-8/1997 pensioners becomes crystal clear
10) Sri Arun Jaitley,present FM ,when he visited "Yogakshema" on 9th January,2015,observed, 'the Country depends on LIC to a great extent. LIC is a Role Model of how a state sector instrument can,while maintaining arm's length distance,take prudent commercial decisions and LIC has done exceedingly well.The Market is going to be more competitive and the 'Best of LIC' is yet to come .'
Grace & magnanimity is required to honour fully in letter & spirit, the Court judgements,one by one, all in Pensioners favour.
11)& 12) Pensioners for long yrs 35 & more years have done yeoman service , built Foundation, erected fine Superstructure, ably galvanised with Reorganisation in the 80s ,made the INSTN bear intense COMPETITION with CONFIDENCE & COURAGE,such a Paltry pension, not befitting on the institution for no fault of pensioners. EVEN with all these facts, figures , reason & logic, it is disturbing that Pensioners should be treated so bad .More than 15,000 pensioners have died & are dying. Family Pensioners jumped to 38 %from 18 % of Regular pensioners.NOONE to wipe the tears of the widow .
Lack of money power,lung power,muscle power,political power,must be compensated & addressed only by High Courts & Supreme Court.Court victories have been galore,paltry pension we send donations as Legal costs are prohibitive.
13)14 ) SJ Hon Justice Bhandari's judgement dt 12/1/2010 was allowing both the writs 6696/1998 pertaining to Full DR & 654/2007exclusively on pension upgradation. 'On the basis of date of retirement, there cannot be any discrimination between the Pensioners interse.' Hon Judge's observations in his order mentioned.
15) Then again LIC went in for Writ Review 86 & 87/2011 which was also dismissed on 19/8/2011 by DB JAIPUR HC
16)Then FM Sri Pranab Mukerjee during his talks with Insurance & Inservice & Pensioners Fedns observed on 5 Nov 2011: as LIC is 100% owned by Govt. of India, all benefit available to Govt. employees on pension front be extended to LIC pensioners too.
17) SC Bench on 17/10/2012 issued a clarificatory order re. the amount due to the pensioners ie writ petitioners wef the date of their eligibility to get retiral benefits. Difference in Pension & DR is what is referred to & that from the date of retirement.
18)i) The Punjab & Haryana High Court,Chandigarh decided the writ Petition vide its judgment dated 9th November, 2012 wholly in terms of the judgment passed in the cases of Krishna Murari Lal Asthana by Rajasthan High Court and has granted interest on arrears also.
ii) The Hon'ble Delhi High Court has made the judgment dt 30 January,2013 ,also based on Jaipur HC verdict, to be applicable "in rem" &therefore, all the retired employees of LIC wherever they may be stationed are entitled to get the benefit of the aforesaid judgment
19)i)SC Bench dismissed LIC SLPs 29956 & 29957/2011 on 8th August,2013
ii)The Proceedings dt 30 Sep,2013 SC Bench observed:
''There shall be no stay of the directions given by the learned Single Judge vide Order dated 12.01.2010 passed in S.B.C.W.P. No 6676 of 1998 and connected matter''
Connected matter refers to 654/2007 on pension upgradation & Chandigarh HC & Delhi HC judgements as above
After protracted delays & adjournments, thanx to SC Bench using discretionary power,SLPs were converted to CAs & final hearing is slated on 13 March 2015.
20)When all goes well in view of earlier happenings & series of victories,after hearing submissions of both parties so far,LIC has to make compliance by revising the pensions from the date of retirement and make payment of the revised pensions with arrears along with interest as has been awarded by Punjab and Haryana High Court and to all the Pensioners as has been directed by Delhi High Court.
21),22) & 23) True transparent Corporate governance to prevail.LIC Board Members must be the harbingers of neutral, unbiased decision. MOF Circular dt 5 January 2015 gives full freedom to PSBs/Financial instns/Insce companies on commercial decisions & personnel matters & assures non-interference in clear terms.
Please extend a helping hand. Bless us & allow us to be blissful, in the twilight years of our lives.
The benefits flowing out of the same must be dutifully, magnanimously & honourably be allowed to flow by graceful acceptance & implementation of Hon SJ Bhandaris judgement which will bring everlasting goodwill & reputation to this great,gigantic institution LIC & also resolving a long-pending issue in favour of pensioners amicably.
LIC Board Resolution of 24/11/2001, borne out of Dr Ram Khanna's salutary intervention.
So too.logical conclusion & happy consummation now by present Distinguished Board –our sincere Appeal & prayers.
COMPILED by R.B.KISHORE,ED(Retd),LIC & VP,AIRIEF : 7/3/2015
R.B.KISHORE,VP,AIRIEF
ED(Retd),LIC,PROBUS LIFE MEMBER,
044-28155810 / 098403 40591
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