51 lakhs representing the reserves and the balance of Rs.
Negotiations in this regard having failed, the respondent made a reference to the Industrial Court under s. 73A of the said Act for arbitration of the dispute arising out of the said numberice.
The appellant, Khandesh Spinning and Weaving Mills Company Limited, is a textile mill and its factory is situate at Jalgaon.
9 lakhs spread over a period of 15 years gave the figure of Rs.
83,639, it came to the companyclusion that the Company would number be entitled to any allocation as a prior charge for rehabilitation.
The respondent, Rashtriya Girni Kamgar Sangh, represents the employees of the appellant Company.
As the statutory depreciation was Rs.
After excluding the said item of rehabilitation, it fixed the surplus in a sum of Rs.
60 lakhs out of this amount it deducted Rs.
60,000 as the amount that should be set apart for the year in question for rehabilitation.
2.20 lakhs after deducting the prior charges from the gross profits of the Company, but it did number give any credit to the rehabilitation amount apart from the statutory depreciation.
The arbitrator, i.e. the Industrial Court, following the Full Bench Formula, ascertained the surplus to be Rs.
The Industrial Court disallowed this item for the following reasons It estimated the amount required for rehabilitation at Rs.
The respondent on behalf of the employees issued a numberice to the appellant under s. 42 2 of the Bombay Industrial Relations Act, 1946, demanding payment of reasonable bonus for the period from January 1, 1955 to December 31, 1955.
