Breaking News ---XI BPS - SUDDEN TURN OF EVENTS :

XI BPS - SUDDEN TURN OF EVENTS :

IBA has stated "However, legally speaking such Joint Notes unlike Settlements do not have any statutory force" (Point No.6 on Page No.4 of its Counter dated 21-10-2020 filed in Madurai Bench of Madras High Court).
Very candid admission, isn't it?

It is amply evident now that the Settlements done by IBA on behalf of all the Member Banks in the past have NO legal sanctity and legal enforceability.

1. All the Signatories said to represent the Member Banks have signed the Joint Notes in the past, only in their capacity as a Member of the 'Negotiating Committee' of IBA. So, all the Signatories are deemed to represent IBA only.

2. In 'Delegation of one's Authority', the Delegatee can further delegate his powers to a Third Party, as per Indian Contract Act, 1872, if and only if the first delegation allows it.

3. 'Mandate' said to have been given by the Member Banks is nothing but delegation of authority to negotiate on their behalf to finalise the wage revision with the Unions, Associations and Federations of Workmen and Officers.

4. But, it is not known if such 'Mandate' received by IBA from the Member Banks permits the Managing Committee of IBA to further appoint a 'Negotiating Committee' comprising of a small group of members chosen from among themselves, to represent the Banks who had given the Mandate. 'Implicit Delegation' is not recognised by Law.

5. Though the Members of the Negotiating Committee are drawn from different banks, they cannot be said to represent all the member banks of IBA, insofar as such Mandate has been received only from a section of the Member Banks - but not all. The fact that IBA has received mandate only from 35 member banks this time been confirmed by IBA itself, in its Counter dated 21-10-2020 submitted to Madurai Bench of Madras High Court.

6. It is now clear it is only a part of the 'Managing Committee' of IBA - not the managements of individual member banks - that is negotiating with the employees unions. We must remember that the full 'Managing Committee' of IBA, representing all Member Banks has not taken an active part in the day to day talks.

7. IBA is said to have a total number of 237 'Associate Members'. It is not revealed, of the said 237, how many are actually 'Scheduled Commercial Banks'. Whatever it is, only 35 Member Banks have given their Mandate to IBA for conducting wage negotiations on their behalf, this time. Thus, what IBA has received is only a 'Truncated Mandate' and not full mandate.

8. How does a 'Negotiator' call himself only a 'Facilitator', in order to escape from the attendant responsibilities and the consequential legal consequences?

9. How can IBA perform dual role - 'Negotiator' as well as a 'Facilitator' - simultaneously ?
Isn't it ridiculous ?
At the most, a Facilitator can also be a 'Witness' to the Agreement he has facilitated. He can never be a party to the Agreement. Cp