JUDGMENT - G.R. MAJITHIA, J.:---The petitioner, Life Insurance Corporation of India, a statutory Corporation incorporated under the provisions of Life Insurance Corporation Act, 1956, has challenged the order dated June 15, 1989 passed in Application No. LCB-3 of 1988 filed by respondent No. 1 under section 33-C(2) of the Industrial Disputes Act, 1947 directing it to pay to the latter Rs. 67,295.85 along with interest at 9% from July 1, 1987 till the date of actual payment, in this petition under Article 226 of the Constitution of India.

2. The facts as gathered from the pleadings of the parties and the list of events and dates filed by the petitioner in Court and not disputed by the Counsel for respondent No. 1, briefly put, are as under :---

Respondent No. 1 (hereinafter referred to as "the employee") joined service of the petitioner on February 9, 1949. He applied for allotment of staff quarters on April 14, 1960. He was allotted staff quarters on July 4, 1960. The petitioner issued a circular dated June 20, 1985 authorising withholding of Provident Fund and Gratuity in the event of any employee not vacating staff quarters on retirement. The petitioner issued another circular da

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