AIBOC has issued circular regarding 2nd Pension option implementation - hurdles of litigation. The case in Madras High Court is getting listed but could not reach the stage of hearing so far.
There are certain developments in between.The payment of arrears in Canara Bank took place after the temporary stay was granted by the Court; the petitioners have raised the issue of contempt of court and compelled the Management of Canara Bank to refund the amount recovered. Fearing the contempt proceedings Canara Bank has returned the amount of 2.8 times revised Nov.2007 pay, recovered from the award staff. As the Confederation or any other Officers’ organization is not a party to this petition, they have not returned the amount recovered from the Officers concerned.According to AIBOC, IBA is now planning to go before the Bench of Hon’ble High Court of Madras, raising the issue of urgency in getting the agreement implemented and seeking quashing of the case. A meeting of the United Forum of Bank Unions is scheduled on 26th of July 2010 at Mumbai to deliberate on all these developments and take appropriate decision in the matter. For viewing the AIBOC circular click on the link below.AIBOC Circular dtd. 24/07/2010