JUDGMENT

The petitioners are retired employees of the Kerala State Financial Enterprises Ltd (‘the Company’, for short). They are aggrieved by the non-disbursal of benefits like gratuity, earned leave surrender, arrears of dearness allowance, salary revision arrears, festival incentives, flood relief amount etc. The reason for non-disbursal put forth by the Company is the alleged grant of sticky loans/chits in violation of the Company's circulars and norms.

2. Learned Counsel for the petitioners contended in unison that the allegations are baseless and notice of quantification of the alleged liability was not issued to the petitioners while they were in service. It is contended that, terminal benefits being reward for service rendered, ought to have been disbursed immediately after retirement. The Company having failed to do so, is bound to pay interest on the amount due.

3. Learned Standing Counsel for the Company explained that the usual practice is to quantify the liability of each employee, prior to the settlement of his/her retirement benefits. For the purpose of quantification, liability/non liability reports are collected from the Head Office and Branches where the employee ha