Page 320 - NHB AR 2020-21-3 complete- Print (1)
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d) Investment details of plan assets:
The Bank has not funded the liability as on June 30, 2021. As such there is no fair
value of assets except for pension liability which is managed by a separate trust
e) Amount recognized in the statement of Profit & Loss Accounts
Amount in `
Defined Benefits Gratuity Leave Medical Pension
Encashment**
Current Service Cost 9,747,942 - 16,096,002
Interest Cost 5,519,328 - 930,102 34,711,840
Past Service cost -
Expected return on - - -
plan assets NA NA NA (31,899,082)
Actuarial (Gain)/Loss 15,954,193 - (2,001,392) 50,803,461
31,221,463 - (1,071,290) 69,712,221
Expenses/(Income)
recognized in the
statement of Profit
and Loss Account
29. Security Transactions of 1991-92
29.1 Pursuant to the Judgment of the Hon’ble Supreme Court setting aside the decree passed
by the Hon’ble Special Court in Suit No. 2 of 1995 and the directions given by Department
of Financial Services (DFS), Government of India, NHB had paid an amount of ` 236.78
crore to SBI. In July, 2016, SBI has filed an Application before the Hon’ble Special Court
claiming interest @19% on ` 236.78 crore. NHB has denied the above claim of SBI and
prayed for dismissal of the Application as SBI did not adhere to the directions of DFS.
Further, as per the directions of DFS, NHB was to receive an amount of ` 353.78 crore
from SBI as determined by RBI and interest thereon, for which NHB has filed a counter-
claim.
29.2 Subsequent to the judgment of the Hon’ble Supreme Court setting aside the decree
passed by the Hon’ble Special Court in Suit No. 2 of 1995, NHB filed two Applications
before Hon’ble Special Court. One of them was the Miscellaneous Application No. 62
of 2016 where NHB had lodged its claim with the Custodian for return of ` 94.20 crore
along with interest accrued on them, which was deposited with the Custodian earlier
in terms of direction of the Special Court. The said Application was disposed off in
favour of NHB allowing the release of ` 94.20 crore to NHB. Pursuant to the said order,
the Custodian has filed Custodian Report No. 20 of 2018 before the Hon’ble Special
Court giving the detailed calculation of the amount that can be released to NHB and the
300 | Annual Report 2020-21
The Bank has not funded the liability as on June 30, 2021. As such there is no fair
value of assets except for pension liability which is managed by a separate trust
e) Amount recognized in the statement of Profit & Loss Accounts
Amount in `
Defined Benefits Gratuity Leave Medical Pension
Encashment**
Current Service Cost 9,747,942 - 16,096,002
Interest Cost 5,519,328 - 930,102 34,711,840
Past Service cost -
Expected return on - - -
plan assets NA NA NA (31,899,082)
Actuarial (Gain)/Loss 15,954,193 - (2,001,392) 50,803,461
31,221,463 - (1,071,290) 69,712,221
Expenses/(Income)
recognized in the
statement of Profit
and Loss Account
29. Security Transactions of 1991-92
29.1 Pursuant to the Judgment of the Hon’ble Supreme Court setting aside the decree passed
by the Hon’ble Special Court in Suit No. 2 of 1995 and the directions given by Department
of Financial Services (DFS), Government of India, NHB had paid an amount of ` 236.78
crore to SBI. In July, 2016, SBI has filed an Application before the Hon’ble Special Court
claiming interest @19% on ` 236.78 crore. NHB has denied the above claim of SBI and
prayed for dismissal of the Application as SBI did not adhere to the directions of DFS.
Further, as per the directions of DFS, NHB was to receive an amount of ` 353.78 crore
from SBI as determined by RBI and interest thereon, for which NHB has filed a counter-
claim.
29.2 Subsequent to the judgment of the Hon’ble Supreme Court setting aside the decree
passed by the Hon’ble Special Court in Suit No. 2 of 1995, NHB filed two Applications
before Hon’ble Special Court. One of them was the Miscellaneous Application No. 62
of 2016 where NHB had lodged its claim with the Custodian for return of ` 94.20 crore
along with interest accrued on them, which was deposited with the Custodian earlier
in terms of direction of the Special Court. The said Application was disposed off in
favour of NHB allowing the release of ` 94.20 crore to NHB. Pursuant to the said order,
the Custodian has filed Custodian Report No. 20 of 2018 before the Hon’ble Special
Court giving the detailed calculation of the amount that can be released to NHB and the
300 | Annual Report 2020-21
