Sunday, July 25, 2010

2nd Pension option Implementation - Hurdles of litigation

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. 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

Friday, July 23, 2010

Pension option - Madras High Court injunction case - Update

The Pension Option case at Madras High Court is getting listed for hearing everyday , but gets rescheduled to next day, due to lengthy arguments in other cases listed before this case. The case is again listed for hearing on 23rd July, 2010.  But there is little possibility for the case to be heard on 23rd. It is likely that it will be heard in next week only.

Friday, July 9, 2010

Pension option - Madras High Court injunction case

The case filed in Madras High Court regarding pension option is postponed and scheduled for hearing on 9th July 2010.IBA, AIBEA, NCBE have filed their COUNTER  for lifting the stay.

Click here to view the counter argument filed by IBA

Source - AIBOA  Website