Dear all pensioners,
Sri
Nidesh Gupta,Sr Counsel, AIRIEF presented the case in detail with many
Constitutional Bench judgements in pensioners favour .It was a marathon
session for him, more than 90 mts perhaps.AIRIEF OBs were at Delhi for
many days,exchanging notes, ideas, charts, macro & micro details
& intricacies of all provisions in PR 1995 as also in various Acts
to rebut LIC Affidavits
Shri
Nidhesh Gupta is capable of clearing the ambiguities created by
technical jargon with ulterior motive of the respondents. The chart
showing grave discrimination in pension payment to similarly placed
employees based on date of retirement was already submitted and the
bench has taken due cognizance of the same. AIRIEF has also submitted
the estimated maximum permissible expenses as per Rule 17D vis-a-vis
actual expenses of management incurred by LIC to show the wide margin.
Rule 17D prescribes limits of management expenses as the percentage of
FYP & Renewal Premium Income for a particular year and therefore the
expenses ought to be allocated to the relevant year for deciding
whether statutory limit is breached or not. Shri Gupta is fully prepared
to counter LIC's plea on the bumper figure of several crores. Rules
and Regulations related to actuarial valuation, surplus generation,
distribution of surplus, participating and non-participating policies
etc were discussed thoroughly. in face to face meetings.
Our
President Shri S S Saxena, Pramod Bhatnagar and Ranjan Dey Sarkar had
met our advocates at New Delhi yesterday They have fine-tuned the
contents for todays pleadings. Some more information on management
expenses, Sec 40 B and Rule 17D which was asked for were also provided
satisfactorily.All in all, ammunition for Sr Counsel is very important
& due & more than adequate care was taken with proper diligence
to make professional presentations & arguments to convince the Hon
DHC Bench to wrest positive & favourable judgement benefiting all
the pensioners
Let us hope & pray all goes well tomorrow & later till DHC decides.
greetings ,
VP
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