Today in DHC
The hearing of our cases was resumed at 3 PM. It went to up to 4.30 PM. Nidesh Gupta
continued his arguments covering (1) cut off dates with a few citations, (2) accounting
figures, expense ratio and the sustainability of additional funds within the
allowable statutory limits and (3) some points on actuarial calculations, bonus
allocation , surplus determination and life fund. The argument went on well
except on the (3) which, we believe, could have been kept out of scope.
It is unfortunate that the arguments were made to go on a
side track. On the (3) above, several questions and disagreements emanated from
the Bench. A simple explanation, specific
and confined to, the financial capacity of LIC to meet our pension demands and
redressing disparity could have served the purpose. On this, we on our part
have given simple and to the point instructions to our counsels. We hope
further proceedings will go on smoothly.
There were occasions for the Bench to seek clarification
from LIC officers, on matters including pension fund. A few could be clarified but not all.
Tomorrow there will be argument by AIIPA. Therefore
arguments will drag on beyond tomorrow.
GN Sridharan
Gen Secy, Fed of LIC Class I Officers’ Assns
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