Madras High Court has delivered the judgement in favour of the petitioners in the WP50000/2006 filed by the Treasurer of AICBRF (All India Canara Bank Retirees' Federation), Shri A B KasturiRangan (Ret'd Sr.Mgr, Canara Bank) and others.
It is a GREAT Victory for the pre-1/11/2002 retired pensioners as this is the FIRST such one in Banking sector.
Communication from AICRBRF is reproduced below
Dece mber 14, 2012
To: All Affiliates, Office Bearers and Central Committee Members
Madras High Court Judgement on 100% D.A.Neutralisation
You may remember that a batch of Writ Petitions were filed by the aggrieved pensioners of Canara Bank, Bank of Baroda and Indian Overseas Bank in Madras High Court during 2006 on the subject matter.
In our Bank, Sri A.B.Kasturirangan & 20 Others from Chennai filed the Writ Petition No.50000/2006 for payment of dearness relief to Pre-01.11.2002 retirees at 100% D.A. Neutralisation on the entire basic pension with effect from 01.02.2005 as paid in respect of those who retired on or after 01.11.2002. The petitions were heard by the Hon’ble High Court of Madras over a period of couple of months and arguments were concluded on 30-10-2012 with the Court reserving its orders.
We are glad to inform you that the Hon’ble Court has since been pleased to pronounce its order today allowing the petitions and directing the respondent banks to implement the order within three months of receipt thereof. Please wait for further details till we receive copy of the judgement from the Madras High Court.