1.There are only 20% Chances of verdict coming in Pensioners favour
2. Petitioners are repeating same points that earlier high court examined and rejected;
3. Earlier, the High Court had observed that petitioners should have negotiated with management for benefits instead of coming to us under Article 226 of the constitution.
4. Between 2016 and 2025 there is no single evidence recorded that Unions have negotiated the issue with Banks and the management rejected it, except union circulars which says IBA said this and that which have no legal value.
5. In Previous High court cases Banks have dismissed claim under clause 56 etc as preliminary discussions which did not result in fruitful outcome.
6. Regarding small committee meeting resolution Banks had argued that RBI also has not implemented Pension uofation.
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For the last 9 years the Retiree association did not make any attempt to pressure unions to negotiate issues and discuss details like formula, cost factor etc.
They should have obtained information regarding mandate to IBA, cost details through RTI or personal approach or through Unions to gather some evidence other than claim under Regulation 35/1 which High courts have rejected.
Only positive developments since earlier High court judgments is RBI has implemented Updation and on 08.03.2024 a resolution was signed by IBA and UFBU agreeing to discuss amending pension regulations
which was later abandoned by both.
another big roadblock created by UFBU itself by filing another case in Bombay High court. IBA may demand clubbing of the case with M C Singhla case and adjourn the hearing.