Pending salary revision

4 years ago

I am working in Navodaya urban Cooperative Bank Ltd. Nagpur. The said was founded according to provisions of MCS Act 1960 in 2000 and due to financial crisis aroused from July 2015, RBI has imposed restrictions u/s 35A of Banking Regulation Act 1949 on the Bank and on 15/12/2016 & further cancel license of our bank on 8/10/2018. The Registrar of cooperative societies, Maharashtra State, Pune has passed liquidation order and appointed liquidator on the bank on 11/10/18. Employees of our bank are being paid salaries according salary agreement approved by the then board of directors for the period of 1/1/2010 to 31/12/2015. Since from 1/1/2016, fresh salary agreement was expected to be made and revise salary of the employees. The BOD of the Bank has passed a resolution regarding revised salary fixation of employees on 30/05/2017. But due to sudden dismissal of BOD of bank by registrar and appointment of administrator on 12/06/2017 on the bank, administrator refused to implement the effect of wage revision to the employees. Now In the event of liquidation of our bank, we had demanded implementation of pending wage revision according to approved resolution from 1/1/2016 along with arrears thereof. But the liquidator denying our demand sought legal rules for the same. So, kindly guide us in the matter along with with rules and case study if any and onlige us.