I fully agree with Mr Subburathinam.
Sometime last year, I wrote to IRDA with copy to a Chartered Accountant-LIC Board Member pointing out the need for LIC to make provision of the liability as per the unstayed High Court judgments in accordance with the principles of corporate governance. I did not get any reply there to.
As I am in USA at present, I propose to pursue this matter further after I return to Hyderabad in August 2015.
Meanwhile, I will be happy if someone - especially a Chartered Accountant - authentically confirms whether LIC's liability towards pension arrears have been provided for in the Balance Sheet as at 31/3/2014 and 31/3/2015.
Greetings.