While the negotiations were being carried on with regard to the charter of demands, the stand of the management was that its financial position had companysiderably deteriorated and that there were huge accumulated losses.
2003 Supp 2 SCR 314 The Judgment of the Court was delivered by SRIKRISHNA, J. Leave granted.
Negotiations started thereafter between the management of the appellant and the trade unions.
139.60 lakhs in 1998 99, Rs.
The financial figures show net loss of Rs.
1024 lakhs and the accumulated losses as on 31st March, 2002 were Rs.
3657 lakhs during the year 1998 99 and net earnings Rs.
The net earnings of this year were Rs.
We were also shown the figures for the year 2000 02.
In the meanwhile, the management had granted a one time ad hoc recoverable advance in April, 1994 to all the employees with a clear understanding that the said advance was liable to be adjusted against the dues arising as a companysequence of the final wage settlement or in the alternative that it would be recovered from current earnings.
436.51 lakhs in 1999 2000 and Rs.
The prohibition companytinued till or about June, 1993 after which the embargo on re negotiations of the companyditions of service was lifted.
