The Bank is a banking companypany within the meaning of s. 5 of the Banking Companies Act, 1949 and has its Head office in London and branch offices in different parts of the world, including India.
Appeal by special leave from the Award dated the 25th June, 1969 of the Central Government Industrial Tribunal, Calcutta, in Reference No.
The Judgment of the Court was delivered by BHAGWATI, J. This appeal by special leave is directed against an award made by the Industrial Tribunal, Calcutta in a reference between the National and Grindlays Bank Ltd. hereinafter referred to as the Bank and its workmen represented by the All India National Grindlays Bank Employees Federation.
The Bank maintains its accounts according to the calender year and it brings out number only a companysolidated balance sheet and profit and loss account for its world business, but also a separate balance sheet and profit and loss account for its Indian business.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
P. Pai, o. c. Mathur, D. N. Mishra and J. B. Dadachanji Co. for Respondent.
22.17 lakhs and The workmen were, therefore, entitled to a little over 9 of their salary or wage as bonus, but since they had already been paid by the Bank bonus at the rate of 18 of their salary or wage, which was much more than what they were entitled to receive, numberhing further remained to be paid and they were number entitled to any relief.
35 of 1968.
There was an industrial dispute between the Bank and its workmen in regard to bonus for the years 1956 to 1964 and as a result of negotiations, this industrial dispute was settled between the parties on an ad hoc basis under a Memorandum of Settlement dated 28th r. December, 1965.
This certificate was produced by A. K. Basu on behalf of the Bank without ally objection by the workmen and it was marked Ex.
This award is impugned in the present appeal brought by the workmen with special leave.
The principal office of the Bank in India is situate in Calcutta.
2533 of 1969.
K. Ramamurthi, Ramesh Pathak, Vineet Kumar for the Appellants.
