50% of Pay as Pension (1616 – 1684 consumer price index issue) – Canara Bank Vs Savithri

ALL INDIA CANARA BANK RETIREES' FEDERATION

(Regd.) (Affiliated to All India Bank Retirees' Federation) 

"A.K.Nayak Bhavan", 2nd Floor, 14, Second Line Beach, Chennai – 600001.       Phone (O): 044 - 25220611 Mobile:+91 94442 32867 E-Mail: aicbrf2010@gmail.com Website: www.aicbrf.in 

Our Ref:16:2018                                                       February 13, 2018

To: All Affiliates, Office Bearers & Central Committee Members  

Dear Sir/Madam,   

50% of Pay as Pension (1616 – 1684 consumer price index issue) – Canara Bank Vs Savithri Venugopal & Ors – SLP (C) Nos.20661 -- 20668/2012 - Supreme Court Final Hearing held. 

  As informed in our earlier Circular Letter No.13:2018 DATED 09.02.2018, final hearing by the Supreme Court on the subject case along with other connected cases (including ours) commenced at 11.54AM today in Court No.10 before Hon'ble Mr.Justice Arun Mishra & Hon'ble Mr.Justice Amitava Roy. 18 Batches comprising 982 Special Leave Petitions (Around 700 are members of State Bank of Mysore Pensioners' Commune, Bengaluru) in respect of various banks including Canara Bank have been clubbed and tagged to CA No.5525/ 2012 Bank of Baroda & Ors Vs G Palani & Ors.   

AFTER HEARING garguments/submissions made by Advocates of both sides in the course of the final hearing that lasted for about 3 hours, the Hon'ble Supreme Court delivered judgement today, the effect of which are as follows:    

"In respect of Pensioners retired on or after 01.04.1998,  pension has to be re-calculated and arrears paid from the date of retirement till 30-04-2005 in terms of Bank Employees' Pension Regulations, 1995 along with simple interest at 9% within four months."

    

We are awaiting for other details of judgement and note to send the copy immediately on receipt from our Advocate Sri S.Rajappa, New Delhi.    

We heartily congratulate not only our Advocate Sri S.Rajappa for this achievement of securing substantial justice to the pensioners fraternity, but also all those elder pensioners, who pursued the above case with patience and perseverance, besides devoting their time and energy for carrying on relentless struggle against bank managements' denial of pension arrears.   

This achievement is as much due to the efforts of the litigants as that of various Retirees' Organisations which stood solidly with them all through the case journey.     

With Warm Greetings

Yours Sincerely,                                                                                                                                                                                                                                                                                  (S.V.SRINIVASAN)                                       

GENERAL SECRETARY
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