You were good enough to upload copy of my memorandum dated 5th June 2015 submitted to ED (P). Attached is a copy of the letter I personally handed over to the Director, Dept of Financial Services (DFS), Government of India, New Delhi on 8th June 2015, following a brief one-to-one discussion with him, in his office.
My earlier interaction with ED (P) & MD gave me an impression that I could convince them that it is not easy for them to implement the Order. I canvassed strongly for seeking SC clarification, if they cannot pay 20% to ALL, Pension up-gradation included.
LIC may choose any one of several options they have before them but one thing for sure is, any proposed action will be subject to a 'nod' from the DFS. It was that distinct possibility that made me work hard to brief the Director. I invited his attention to several observations in the SC Order which support my interpretation on its overall import. It was my main submission that improper compliance of the interim Order would lead to further litigation like contempt proceedings, which is totally avoidable. I was assured that my submissions would be kept in mind while disposing of the reference from LIC, as and when received.
I now hope that LIC gets 'proper' and fair advice from the Government.
On the six-week time given by SC, I may state that LIC does not seem to be taking it seriously. So let us not expect anything great to happen on or before 18th June.
Will try to explain my views on that separately.
ALL THIS IS BY WAY OF PREPARATION FOR OUR ACTION AFTER 18TH JUNE.
THAT PART IDEALLY SHOULD BRING ALL OUR STAKE-HOLDERS TOGETHER.
Will try to explain my views on that separately.