Mumbai : The Bombay High Court on Tuesday imposed a fine of Rs 10,000 on the Nashik Division of Life Insurance Corporation (LIC) for failing to provide a copy of Form 16-A to one of its retired employees.
A division bench of Chief Justice Mohit Shah and Justice M S Sanklecha was hearing a petition filed by 64-year-old Vasant Kshirsagar, a resident of Nashik, seeking a direction to LIC to give him a copy of his Form 16-A for the financial years 2009-10 and 2011-12 to enable him to file Income Tax returns.
Kshirsagar had joined LIC Nashik Division in 1972 and retired on January 31, 2010. He was entitled to monetary benefits like provident fund, gratuity, leave encashment and arrears of wages.
However, barring provident fund, LIC failed to settle the petitioner’s monetary arrears. Aggrieved by this, Kshirsagar approached the High Court following which in 2011, LIC paid him over Rs seven lakhs as final settlement.
Despite repeated requests from the petitioner, the form was not issued by LIC,” Kshirsagar’s advocate Sachin Gite said.