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?
he
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