THAMPY MATHEWS Vs. INDUSTRIAL INVESTMENT BANK OF INDIA

JUDGEMENT

(1.) THE counsel for the Respondent informs that in pursuance of the orders dated 19th May, 2011 and 31st May, 2011, a sum of Rs. 26,67,648/ - has been paid to the Petitioner.

(2.) THE counsel for the Petitioner also does not controvert the aforesaid. He however contends that the Respondent while computing the amount aforesaid, has paid interest on the VRS amount with effect from 4th June, 2010 only and not with effect from 1st February, 2009. It is contended that if interest were to be paid from 1st February, 2009, a further sum of Rs. 1,40,076/ - is payable by the Respondent to the Petitioner.

(3.) THE counsel for the Petitioner has also contended that there was a direction to the Respondent to pay interest with effect from 1st February, 2009. I do not agree. The orders aforesaid only noted the contentions of the parties.