The 1st respondent is a Federation representing the employees of the appellant amongst others.
From the Judgment and Order dated 17.12.
1987 of the Bombay High Court in W.P. No.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
Setting aside the award of the Industrial Tribunal, the High Court held that the appellant was liable to pay its employees bonus at the rate of 20 per cent of its total annual earnings for the years 1975 76, 1976 77 and 1977 78.
The principal companytention urged at the Bar against the impugned judgment is that the High Court went wrong in directing the appellant to pay bonus without regard to various amounts invested by it as permitted under the rele vant provisions of the Maharashtra Cooperative Societies Act, 1960 the Co operative Societies Act and other amounts carried forward to its reserve fund.
The Judgment of the Court was delivered by THOMMEN, J. This civil appeal by special leave is di rected against judgment dated 17.12.1987 of the High Court of Bombay in Writ Petition No.
1048 of 1982 instituted by the appellant, which is a Co operative Credit Society.
Anil Dev Singh, Ms. Nayana Buch, M.J. Paul, Kailash Vasdev, Ms. Subhashini and Mrs. Kitty Kumarmangalam for the Respondents.
4042 of 1988.
C. Gupta and M.N. Shroff for the Appellant.
1048 of 1982.
