RBK Talk with our LIC Chairman on Restoration of Arrears wrongly deducted from 40% IR

RBK Talk with our LIC Chairman on Restoration of Arrears wrongly deducted from 40% IR

1)In this case of Payment of 40 percent IR to pre 8/1997 Pensioners, in accordance with Hon SC Orders of Justice Dipak Misras 29 page verdict , which in so many words , after threadbare analyses of Submissions , preferred to choose 2 Sr Counsel opinions,one of AIIPA& another of ours AIRIEF Sri Nidesh Gupta , stating virtually ' you have come so near & yet so far, but adding the last word on the subject of PU has not been written yet & if only Constitutional points Cld have been delineated & emphasized , solidity & strength wld have been added.

2)He also indirectly bestowed a rebuke to LIC that SC is now compelled to ignore LIC Board Resolution but   for the benefit of aged Pensioners , they Cld have hastened acceptance of their own Resolution to pre 8/97 Pensioners affording some timely relief to them ---et all.

3)The very fact LIC did not contest that Orders but paid IR in 5/2016 of 3/16 SC orders is a proof & a testimony of total acceptance of that Order, which even otherwise LIC had to comply

Therefore, for resistance to come later on as Gyanodaya , & LIC CO deciding to recover the small amount of Rs 29cr app from such older& oldest ELders &. Pensioners , knowing full well that IR amounts are never ever recovered as per HC & SC dictates , established for long as a convention & right ethical practice, small amount for LIC but something atleast for poor Pensioners , it was a travesty of justice & FairPlay ,hiring hard the Pensioners , crying for 20 long & tortuous years for a semblance of equity, equality & ethics & justice . So, there is no question of any need for reference or even a nod from MOF for this purpose 

4)LIC which spends app Rs 650 cr now for Employees Midday Meals Coupons can well afford to ignore this pittance of Rs 29cr, as though showered on Pensioners & so grace & magnanimity should prevail as a natural course of action by a positive & empathetic decision of restoring & recrediting to respective pensioners SB accounts 

5) I even want to add, what Sri GRamamurthy,who atttended the AIRIEF Trichy OB, EC Meeting on 7 & 8 Nov 2019 brought to my notice so fast of latest SABARIMALA VERDICT.

Even the IR of 40% granted and paid is recovered by LIC inspite of DHC order. In this regard I would like to quote the SC observation on 15-11-2019 while delivering a judgement in Sabarimala case. " If those whose duty it is to comply were to have a discretion whether or not abide by a decision of the Court, the rules of law would be set at naught. Compliance is not a matter of option. If it were to be so , the authority of the Court could be diluted at the option of those who are bound to comply with its verdicts.      It said adding 'Today, it is no longer open to any person or authority to openly flout a SC Judgement or order , given the Constitutional Scheme'.

This applies very forcefully in our case for RESTORATION of 40% IR paid but sadly recovered from Sr & SuperSr pensioners ,which is ,therefore, UNAUTHORISED .

Thanx for the observations , 

Greetings & warm regards, 

RBK 

R.B.KISHORE,

PATRON,AIRIEF,

ED(Retd),LIC

LIFE MEMBER PROBUS,

Ph:044-28155810(R)

     09840340591 (M).