JUDGMENT :

1. Plaintiffs, who are associations of pensioners of Defendant-Bank, have instituted this Suit for declaration that their members are entitled to guaranteed pension increment of 10% every year and that the reduction in pension increment effected from 10% to 5% by the Bank effective from January 2011 is illegal. Plaintiffs have also sought a money decree in the sum of Rs. 131,85,00,000/-against the Defendant-Bank.

A. FACTS

2. Plaintiffs are two associations of pensioners of the erstwhile ABN AMRO Bank- now the ‘Royal Bank of Scotland’. Plaintiff No. 1 is the association of pensioners of Mumbai, whereas Plaintiff No. 2 is the association representing pensioners of Kolkata. Both associations have filed the present petition challenging the Defendant’s action in reducing the increment of pension payable to their members from 10% p.a. to 5% p.a. by impugned letters dated 27 October 2009, 19 April 2010 and 8 February 2011. Plaintiffs have accordingly sought a mandatory injunction to restrain the Defendant-Bank from reducing the increment of pension payable to their members bel