On 31st March Justice Deepak Mishra awarded 40 per cent IR to all eligible pensioners. Thank God! This order is from SC and unlike earlier 20 per cent is not capable of being interpreted in favour of members (only) of a Union which supplied list of their members to LIC and expressed satisfaction at whatever was paid.
If my memory serves me right LIC did not supply calculation sheets showing how that 20 per cent was calculated and quantified. Some said why we should worry about 20 per cent when we are about to pocket 100 per cent. Again the question is what is 100 per cent?
When we calculate the value of fraction of a quantity, both the numerator and denominator determine the result. In our case the numerator is important. The denominator is what is fixed by the court. (divide by 5, divide by 2.5 etc.).
LIC is escaping without disclosing the value of numerator and it is dishonesty. If we know how the earlier 20 per cent was calculated, that would indicate the method that is likely to be adopted by LIC now.
Some suffer from Dyspepsia and would not want more than first course of dinner. It is better they keep away from the group of diners who are kept starved at each wage revision.
B. Ganga Raju Hyderabad