This MONDAY MEGA MUSINGS + MINI MUSINGS + MAHA MAHA MEGA MUSINGS- R V Ramesh & Katari Satyanarayana

provisions under Sction 10(7) of Act 5 of 1970 are not easily ingnorable.

VOX POPULI.

 

MEGA MUSINGS - FINE CONCERTED ORCHESTRA BY THE FOUR

 

All are aware of the PMO reply to Sri Eyier's representation to former.

(Pl refer to ....

--- On Wed, 26/7/17, 5:55 AM from Katari Satyanarayana <satyakatar@gmail.com> to this group)

For convenience PMO message repeated at end of this mail.

Sri K L Rao Retd Sr Manager from IB & Amnesty International Mmeber also written nearly  25 times to PMO who replied all the times "case closed - forwarded to IBA".

At last he sent a PERSONAL ATTENTION messag asking REPLY from PM himself with a request to have a close look into the matter with all sympathies for Bank Retirees hardships and it is not to take casually by simply forwarding  to the mischievous against whom complaint made.

For that also he received same message as Sri Eyier received.

THUS THERE FINELY CONCERTED ORCHESTRA OF THE FOUR IBA, DFS, PMO & PSBs to muse Bank Retirees.

In courts also same fine tunes.

BUT WHO IS THE COMPOSER OF THE SYMPHONY FOR THE ORCHESTRA IS STILL A PUZZLEED Q.

1) iba   2) dfs  3) pmo  4) any legal adviser 5) all the four

Even distorted musical notations of the orchestra take all to the state of ecstasy with no mouth opening and simply head waving.

SUPPOSE > the orchestra tunes :

additional liabilities if any, towards Pension is to be allocated from the profit

of the Bank based on the actuarial valuation done on yearly basis.

BUT THE DRAFT REGULATION SAYS>>   

11. Actuarial investigation of the Fund:

The Bank shall cause an investigation to be made by an Actuary into

the financial condition of the Fund every financial year, on the 31st

day of March, and make such additional annual contributions to the

Fund as may be required to secure payment of the benefits under

these regulations.

IS THERE ANY WORDING IN THIS REGULATION 11 to the effect THAT

additional liabilities if any, towards Pension is to be allocated from the profit of the Bank; AND or in any relevant clasuses of the Regulations:

Regulation >2.Definitions: In these regulations, unless the context otherwise

requires;

(j)

“Contribution” means any sum credited by the Bank on behalf

of employee to the Fund, but shall not include any sum credited as

interest;

Regulation>5:Constitution of the Fund:

5.(3)The Bank shall be a contributor to the Fund and shall ensure that sufficient sums are placed in it to enable the trustees to make due payments to beneficiaries under these regulations.

7. Composition of the Fund:

(f)the additional annual contribution made by the Bank in accordance with the provisions contained in regulations 11 of these regulations.

Reading Regulation section 7 in whole gives a clear picture that addl. contribution as per acturial investigation shall be according to normal contribution only and not out of profits.

Thus nowhere it is written that additional contribution is to be allocated out of profit.

BUT RETIREES TO BE PREAPRED WELL IN ADVANCE NOT TO BE ENCHANTED BY THE OVERTURES OF IBA/DFS/PMO

Suppose they may say, as the acturial exercise is after 31st March, it should be construed that the liabilities to be adjusted out of profits, if any, only - or indirectly say no need to provide liabilities if profits not sufficient or losses incurred.

For that the retort should be > auditing is done after 31st May only and any adjustments/classifications, addl. provisions according to auditors' advice/directions to be made only after 31st but before decalration of Balance Sheet Accounts. The same here also.  Further Thus there an obligation to complete acturial investigation of Pension Fund before declaration of Balance SHEET.

MINI MUSINGS

After activation of 100% DA CASE in SUPREME COURT, many retirees enquiring and ardent to know, particularly rcently retd/ shortly would be rtiring about PENSION UPDATION CASE IN SUPREME COURT & FATE OF SAME IN CURRENT BIPARTITE.

The STATUS IN SUPREME COURT AS FOLLOWS: For latest adjourned date of 10th july, not came up from cause list and further date  announced AS UNDER

Diary No.- 4266 - 2017

UNITED BANK OF INDIA vs. UNITED BANK OF INDIA RETIREES WELFARE ASSOCIATION

Case Details

Diary No.	4266/2017 Filed on 07-02-2017 01:05 PM Pending   [SECTION: XVI]
Case No.	SLP(C) No. 007368 - 007371 / 2017  Registered on 04-03-2017 SLP(C) No. 007364 - 007367 / 2017  Registered on 04-03-2017
Present/Last Listed On	01-08-2017 [HON'BLE MR. JUSTICE ADARSH KUMAR GOEL and HON'BLE MR. JUSTICE UDAY UMESH LALIT] [CL.NO. : 2]
Status/Stage	Pending (Motion Hearing [ORDERS (INCOMPLETE MATTERS / IAs / CRLMPs)]) List On (Date) (01-08-2017), Other (List a/w D.No. 21826/17 and D.No. 22202/17)-Ord dt:26-07-2017
Tentatively case may be listed on	01-08-2017 (Computer generated)
Category	0601-Service Matters : Retiral benefits
Act
Petitioner(s)	1 UNITED BANK OF INDIA   THROUGH THE CHAIRMAN AND MANAGING DIRECTOR, HAVING ITS HEAD OFFICE AT 11, HEMANTA BASU SARANI , , WEST BENGAL
Respondent(s)	1 UNITED BANK OF INDIA RETIREES WELFARE ASSOCIATION   AFFILIATED TO ALL INDIA BANK RETIREES FEDERATION HAVING