Reports are flowing from Chennai and Vellore Division areas so far
that Banks have informed the pensioners by SMS that certain amount have
been credited to their pension a/cs .
It
is not clear whether LIC has separately intimated the pensioners
concerned..In the absence of any advice from LIC ,these amounts are
unidentified credits in the Bank accounts of the concerned pensioners.
All
of us are aware through our experience in our working days in LIC that
unidentified debits and credits are a great source of worry for LIC
and have attracted serious audit queries.
There
may be many chartered accountants among the recipients of the latest
amounts from LIC.It will be interesting to know what is their
professional view in this regard in the absence of any calculations and
not even an advice..
How
are the recipients going to satisfy themselves that LIC has complied
with the directions of the Supreme Court dt 7/5/2015 in the absence of
supporting calculations by LIC?
The
Class I Federation has to ponder seriously over whether mere
depositing of some amounts in the accounts of its members without
supporting basis and calculations can be deemed to be compliance with
the Supreme Court order as there is no scope for verification as to
whether the amounts credited are correct or not.
Will the Federation counsel concede in the Supreme Court on 23rd September that LIC has complied with the latter's order?
The
manner and speed with which LIC has acted between 7th September 2015
and now seems to be its anxiety to somehow ensure that the Competent
Authority is not required to be present before the Apex Court to explain
non-compliance.
It will be interesting to watch the developments in the Supreme Court on 23rd inst which is just six days away.
Greetings.
C H Mahadevan
