Workmen Of American Express Inter National Banking Corporation v. Management Of American Express International Banking Corporation
1987-03-23
K.N.SINGH, O.CHHINNAPPA REDDY
body1987
DigiLaw.ai
(1) LEARNED counsel appearing for both the parties informs us that the matter has been settled. The workman Ravi Chandran will forthwith tender his resignation. In addition to the amount of Rs. 81,000.00 already paid to the workman, he will be paid a sum of Rs. 1,06,500.00 (Rs One lakh six thousand five hundred) only in full and final settlement of all his claims against respondent management of American Express International Banking Corporation within two months. The management will not deduct any amount of income tax from this amount. This amount will be spread over in previous years under the provisions of S. 89 read with Rule 21-A of Income Tax Act, 1961 in terms of the judgment of this court in Sant Raj v. 0. P. Singla The appeal is disposed of accordingly. No costs.