JUDGMENT

Prafulla C. Pant, J.

1. Leave granted.

2. These appeals, by way of special leave petitions, are directed against judgment and order dated 30.3.2012, passed by the High Court of Judicature at Bombay, Nagpur Bench, whereby writ petitions, challenging order dated 4.8.2010 delivered by Central Administrative Tribunal, Bombay, in Transferred Application Nos. 2001 of 2009, 2002 of 2009 and 2004 to 2035 of 2009, were disposed of. In said order the Tribunal has extended actual financial benefits to the applicants (present private Respondents) by holding that they cannot be denied benefit of Wage Revision' by notional fixation and re-computation of their retiral dues (severance package).

3. We have heard learned Counsel for the parties at length.

4. In the above appeals, following common question of law is raised:

Whether wage revision implemented with effect from 1.4.2006 to employees of Mineral Exploration Corporation Limited, who were superannuated/voluntarily retired from service on or after 1.4.2003, is also applicable to those employees of the Corporation who were superannuated/voluntarily retired before said date (1.4.2003), particularly, when no benefit whatsoever is paid to any employee prior to the cut-off date, i.e., 1.4.2003. In other words, whether fixing cut-off date 1.4.2003 by the Corporation in the matter is arbitrary or irrational.

5. Briefly stated the present Appellant is a public sector undertaking registered under the Companies Act, 1956, wholly owned by the Government of India. It was established for various exploration activities of mineral resources throughout the country. The Corporation incurred losses since 1992 onwards till 2009. As such, due to the stringent financial condition of the Corporation, it could not make any provision for capital investment and improvements, and the productivity went on deteriorating. In 1995, the Government of India constituted a High Power Committee which suggested various measures for revival of the Corporation. A Review Committee for monitoring financial condition recommended drastic measures for revival of the Corporation downsizing the manpower through Voluntary Retirement Scheme. Some 2300 officers and members of the staff availed the benefit of the Scheme reducing the total manpower less than 50% of what existed in 1991. With the implementation of the measures suggested by the High Power Committee, the Appellant-Corporation reduced its loss from Rs. 73.28 crores in 2005-06 to Rs. 16.20 crores in 2006-07. Consequently, the workmen started pressing their demand of wage revision. The Ministry of Mines, Government of India, considered the measures for financial restructuring and wage revision which was communicated by its letter No. 40(1)/2004-M.I. (Vol. III) dated 8.8.2006, and the Appellant-Corporation was informed by the Government of India that by way of financial restructuring, it would waive the interest, penal interest and outstanding loan of Rs. 30.80 crores, and the same would be converted into equity. Similarly, non-plan loan of Rs. 15 crores was agreed to be converted into equity, thereby raising the paid-up capital of the Corporation from Rs. 73.75 crores to Rs. 119.55 crores. The Communication of the Government of India made it clear that the wage revision would be effective from 1.4.2003 but shall be implemented with effect from 1.4.2006. It was also provided that the arrears of the year 2005-06 be paid to the employees subject to achieving gross profit of Rs. 15.64 crores in said year. It was also stipulated that the Government would review physical and financial performance of the Appellant-Corporation, and may allow permitting it to pay arrears for the years 2003-04 and 2004-05 in the year 2007-08. The Ministry of Mines, Government of India, vide its letter dated 17.8.2006, instructed the Appellant-Corporation to take action in pursuance to the approval in terms of letter dated 8.8.2006. Consequently, the Corporation issued its Office Order dated 25.8.2006