Business Standard

LIC to pay only half of wage arrears

M J Antony 

The Life Insurance Corporation of India has persuaded the Supreme Court to reduce by half its financial burden for absorbing temporary workers. About 25 years ago, the Central Government Industrial Tribunal -cum-Labour Courts had directed LIC to regularise temporary workers with full pending wages.

Its appeal before the Supreme Court was dismissed last year, and it was ordered to pay the dues. LIC has now moved a review petition. The court refused to change the judgment but was merciful towards LIC, which said implementation of the order would impose a "heavy financial burden", ...

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First Published: Sun, August 28 2016. 21:32 IST