Supreme Court of India
Khandesh Spg. & Wvg. Mills Co. Ltd. v. The Rashtriya Girni Kamgar Sangh,
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
For the aforesaid reasons, -we, have no option but to hold that Rs. 51 lakhs representing the reserves were not used as working capital and, there- fore, the said .amount ,was rightly deducted bythe Industrial Court from Rs. 60 lakhs fixed by it-towards rehabilitation.
Judgment, page 11
From the headnote
Industrial Dispute-Bonus-Fu.ll Bench Formula-Rehabilita tion-Reserves used as working capital-Mode of Proof. In ascertaining the surplus available for the payment of bonus according to the Full Bench formula the Industrial Court allowed the statutory depreciation but did not give any credit for the rehabilitation amount claimed. The Industrial Court estimated the amount required for rehabilitation at Rs. 60 lakhs; out of this amount it deducted Rs. 51 lakhs representing the reserves and the balance of Rs. 9 lakhs spread over a period of 15 years gave the figure of Rs. 60,000 as the amount
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