MANAGEMENT OF STANDARD CHARTERED Vs. PRESIDING OFFICER

JUDGEMENT

(1.) W.P. No. 39321/2004 is filed by the Management of Standard Chartered Grindlays Bank Ltd., challenging the impugned award passed by the learned Central Government Labour Court, Chennai in CCP. No. 32/1998 dated 29.10.2004 which held that the 2nd respondent in this writ petition-D. Ramanamma-widow wife of the ex-employee-Late D. Kutumba Rao was having pre-existing right, computed a sum of Rs. 13,429/- as the money value of the benefits payable due to D. Ramanamma-widow.

(2.) A counter affidavit was filed by the bank taking a stand that the widow's husband was covered by ANZ Grindlays Bank Ltd. Indian Staff Pension Scheme & Rules and the pension is paid in accordance with the said Pension Scheme. The sub-clause 12(iv) in clause 12 was amended on 19.07.1989 and the widow's husband ex-employee was well aware of it. Further, it was stated that the Pension Scheme has two options, either to choose Rule 12(iii) or Rule 12(iv). The employee opted for Rule 12(iv). As per Rule 12(iv) of the Pension Scheme at the time of retirement, a member will have an option to request the Trustees in writing that the Actuarial value of the Pension payable to him as per Rule 12(iii), be utilized to purchase a Pension Annuity with return of capital on death of the Pensioner, and thereby accepting an Actuarial reduction in the monthly pension payable thereof, during the course of his own lifetime as detailed in LIC I Circular Ref No. G & S/PKM/127, Circular No. 362. This option will also be made available to all existing Pensioners, provided they opt in writing within three months of date of approval of the Deed of variation by the Income Tax authorities. This benefit would be effective from 1.4.87 or any other date as decided by LIC 1 in this regard. Since the widow's husband-Kutumba Rao opted for Rule 12(iv) of the Pension Scheme, he was paid with the pension from 1.1.97 at the rate of Rs. 1,033/- per month till 31.08.1997 as he died on 2.8.1997. Further, it was stated that the widow of the ex-employee was also paid with a sum of Rs. 1,03,300/- on 17.11.1997 being return of capital under rule 12(iv) of the Pension Scheme. Therefore, the widow-D. Ramanamma will be eligible only for Widow's pension from 01.01.2002 under Rule 12(iv) which was also paid to her regularly, therefore, the Claim Petition No. 3/2007 needs to be rejected.

(3.) The question involved in the writ petitions is whether the widow wife is entitled to compute the monetary benefit as claimed by her.