A crucial fact omitted to be brought out in the notes & minutes of LIC Board Meeting held on 24/11/2001

All  of us are aware of the contents of the Note  submitted by LIC to the Board for its meeting and also the  contents of the  minutes of the Board Meeting which have been reproduced in the Supreme Court judgment dated 31/3/2016.

But what is conspicuous by its absence is the Gazette Notification dated 13/8/2001 providing for Inclusion  of Rule 55 B in our Pension Rules.The disclosure of the Notification was material to the Board Meeting because, the  Board was considering the need for revision of pension  rectifying the DR anomaly then prevailing for pre-August 1997 retirees which also included Chairmen and Managing Directors of the Corporation coming  under the definition of Rule 2(j) of the Pension Rules  being whole time officers of the Corporation and who received salary from the Corporation and after retirement,  pension out of the Pension Fund maintained for all employees of the Corporation covered by the LIC Pension Rules 1995.Interestingly, some  Chairmen & MDs  who retired between 1/1/1996 & 31/7/1997 were also benefited by Rule 55B while more than 10000 pre-August 1997 retirees  could not get their DR anomaly resolved. With the efflux of time witnessing six more wage revisions thereafter non-upgradation of pension with every wage revision  has created  huge pension disparities  among employees retired at different points of time both between similarly placed retirees and between higher & lower cadre retirees.

The discussion in the Board  meetingof the inclusion of Rule 55 B would have  highlighted the anomaly that would be accentuated by non-revision of pension consistently for two classes of pensioners under the same  pension rules and the unconstitutionality of the Rule 55B  amounting to selective implementation of Rule 56 leaving out a majority of employees/retirees.

For reasons best known to LIC, the  knowledge of existence of the Notification dt 13/8/2001 was kept out of the Board Meeting held on 24/11/2001.

We know what all happened thereafter till  date especially on the legal front.

Now , all the petitioners  need to bring this point to the notice  of the SC  Bench through the Senior Counsel in  the course of the arguments.

C H Mahadevan