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The UTI-AMC Officers Association has decided to stage a demonstration on Friday against the suspension of three officers by the management.
Association members said that UTI-AMC had also transferred 33 officers, including six office-bearers of the Association on April 15 asking them to report to their new places of posting by April 25, giving them a 10-day notice period.
Employees alleged that UTI-AMC went to the Bombay High Court to obtain a stay against a possible demonstration by the officers association on April 18.
The court passed an order granting a stay on any demonstration till 5 p.m. on April 19.
Employees said that on the evening of April 19 the judge hearing the case observed in his chambers that holding peaceful demonstrations was officers' right.
Though the court also asked both parties to discuss and resolve all outstanding issues, nothing concrete came out of it, said the employees.
The affected employees alleged that UTI had flouted its transfer policy.
According to the transfer policy, an employee can be transferred only after he has served for a reasonable period and has been given a three-month notice.
The company is also expected to ask employees for three centres of choice. Also, transfers are usually effected in June.
Out of a total of 900 officers, about 570 formed the UTI AMC Officers' Association in January 2011 to raise their concerns on the personnel policies adopted by the UTI top management in the last four-five years.
An employee said that established norms and procedures for recruitment and compensation according to grades have been disregarded. There has been no proper wage revision since 2001 and no promotions since 2005, alleged the officers.
UTI-AMC follows the grade system of classifying employees into various hierarchies. This is followed by the RBI and was by the erstwhile financial institution IDBI. Employees said that this system had been replaced by a band system, which they allege lacks clarity, transparency and is devoid of established procedures.
The band system entailed an ad-hoc executive allowance. “This resulted in junior officers getting higher pay than their seniors as the decision on the quantum of executive allowance was whimsical,” said an employee.
But a statement from UTI-AMC said all these allegations are unfounded and baseless. “It is our corporate policy not to respond to allegations in the media. Please be further advised that the Hon'ble High Court has dealt with the issues,” it added.
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