Tuesday, 3 May 2022

D-Day - L.I.C of India's IPO

 

L.I.C of India is currently celebrating its Golden Jubilee of "Betrayal of the Good Faith of its Resigning Ex-employees". It has been willfully, illegally and unjustly repudiating their wage revision arrears' payments and other allied dues like difference in Statutory Payments like Gratuity, P.F. etc., since 1997. (Despite a Supreme Court judgment in 2007, favoring payments to the resigning ex-employees; the Corporation insists on repudiation! Which means "Wilful Contempt of Court" by L.I.C of India!) 
 
Today, L.I.C of India is offering its I.P.O to the public for subscription.
 
Prospective investors, think very carefully before investing!
 
Do peruse this blog for the details about the R.T.I appeals that I made against L.I.C and my harrowing struggle to get information from the Corporation. Kindly note that the Corporation hasn't answered an overwhelming majority of my well-framed questions for reasons best known to it! This, despite it being a renowned Public Authority and bound to do so under the R.T.I Act.
 
My lone crusade completes 12 long years!
And yet, the said payments are pending....
 
Clearly, L.I.C of India doesn't respect its long-serving employees. So will it respect its new shareholders?
Only time will tell....
 
Meanwhile, "FOREWARNED IS FOREARMED!"

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