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Friday, February 17, 2017

AIIPA ARGUMENTS WELL TAKEN BY THE COURT

Dear Editor,

Today's proceedings are reported to have gone very well for the Pensioners. A welcome highlight is that Justice Khanna is reported to have observed and advised LIC's Sr Counsel 'what better Corporate Social Responsibility (CSR) can be there, than paying to your own Pensioners?'

I am informed that the arguments submitted by the Sr Counsel for AIIPA were well received by the Bench.

Another highlight is that Mr Ashish Tiwari, Advocate representing the Hyderabad Association (who was only watching the proceedings) had an opportunity to correct a contention of LIC on declining business income, as they put it and took to Court's Notice how, LIC's Investment income has been steadily increasing, by referring to the relevant page of LIC's Annual Report. 

If the arguments conclude hopefully on Monday and the Judgement reserved, it will be welcome relief to all and I think our chances of winning are improving.


This report is not first hand as I am not in the Court. But it is as informed over phone by two different Advocates Ms Renuka of the Chandigarh Petitioners and  Mr Ashish Tiwari representing Hyderabad.
         
Thanks and regards,
M Sreenivasa Murty