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PETITIONER: KHANDESH SPG. & WVG. MILLS CO. LTD.
Vs.
RESPONDENT: THE RASHTRIYA GIRNI KAMGAR SANGH,JALGAON
DATE OF JUDGMENT: 02/01/1960
BENCH: SUBBARAO, K. BENCH: SUBBARAO, K. GAJENDRAGADKAR, P.B. GUPTA, K.C. DAS
CITATION: 1960 AIR 571 1960 SCR (2) 841 CITATOR INFO : E 1960 SC1006 (5) RF 1967 SC 122 (22) RF 1968 SC 963 (34) R 1969 SC 612 (8) R 1972 SC 330 (10,11) RF 1972 SC1954 (15)
ACT: lndustrial Dispute-Bonus-Full Bench Formula--Rechaibilita- tion -Reserves used as working capital-Mode of Proof.
HEADNOTE: In ascertaining the surplus available for the payment of bonus according to the Full Bench formula the Industrial Court allowed the statutory depreciation but did not give any credit for the rehabilitation amount claimed. The Industrial Court estimated the amount required for rehabilitation at Rs. 60 lakhs; out of this amount it deducted Rs. 51 lakhs representing the reserves and the balance of Rs. 9 lakhs spread over a period Of 15 years gave the figure of Rs. 6o,000 as the amount that should be set apart for the year in question for rehabilitation. This amount being less than the statutory depreciation the Industrial Court held that the appellant was not entitled to any deduction on account of rehabilitation as a prior charge. The appellant co...