At last it is 'curtains at intermission' in the drama of court proceedings which LI C pensioners were witnessing for nearly a year now.
On the last day of the arguments I.e today our Sr counsel Shri. Rakesh Khanna dealt with in detail on expense ratio, bonus to policy holders, dividends to govt etc amidst occasional interventions by LIC's sr counsel.
Shri Nidesh Gupta continued with his points on surplus, life fund etc .The court thereafter reserved orders giving in the meantime ten day's time for those wanting to make written submissions.
So far as our fedn is concerned we have already submitted copious points to our counsels for incorporation in written arguments. Preparation of the relevant materials called for considerable labour on our part and I take this opportunity of thanking our legal committee members viz. M/s R Rajagopalan , VK jain , Basudeb das and M Arunachalam who had contributed immensely in giving shape to points for written submissions.
Our counsel has assured that our written submissions will be submitted at earliest without waiting for ten days.
The end of arguments marks an important stage providing great relief from anxiety and tension for leaders and pensioners alike. Every one of the parties played their part well though unwarranted comments and criticism of others from certain odd quarters continued throughout the agonising period. We rightly decided to refrain from acrimonies. After all we would not like to compete with loud mouthed demagogy of others.
Let me conclude saying that the feedback we have from our counsels make us feel optimistic about the outcome of our pioneering efforts.
Let us therefore wait for a little more time
Retd. LIC class1 officers' Assns