JUDGMENT :

1. Plaintifs, 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 efected from 10% to 5% by the Bank efective from January 2011 is illegal. Plaintifs have also sought a money decree in the sum of Rs. 131,85,00,000/-against the Defendant-Bank.

A. FACTS

2. Plaintifs are two associations of pensioners of the erstwhile ABN AMRO Bank- now the ‘M/s. Nat West Markets Plc’’. Plaintif No. 1 is the association of pensioners of Mumbai, whereas Plaintif 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. Plaintifs have accordingly sought a mandatory injunction to restrain the Defendant-Bank from reducing the increment of pension payable to their members below 10%. Plaintifs have also prayed for monetary decree in the sum of Rs.131,85,00,000/- towards the diference