Life Insurance Corporation Of India And ... vs Retired L.I.C. Officers Association ...

The Supreme Court addressed the jurisdiction of the Chairman of the Life Insurance Corporation of India under Regulation 51 of the Life Insurance Corporation of India Class-I Officers (Revision of Terms and Conditions of Service) Instructions, 1996, particularly concerning the computation of gratuity for retired officers. The Court held that the Chairman lacked the authority to alter gratuity payments based on revised pay scales, emphasizing that such changes could not contravene existing regulations, specifically Regulation 77. The appeal was dismissed, affirming the High Court's decision that gratuity must be calculated based on the last drawn pay at retirement.