Thank you all for your thoughts on the topic.
I have contemplated a course of action based on all the advice i have got.
I will go ahead with "company directives" ,we dont want a "z" in a performance appraisal or be labeled "does not align with corporate strategy"
(Boss,if you happen on perlmonks and are reading this,it's a JOKE.yeah,your supposed to smile).
At the same time i wil build a perl prototyope and bring it to my superiors attention.(fortunately ,i am blessed with a team that figures this overtime might lead to undertime in the future).
Of course it is upto the managemet to decide:
If you have time and money to spend, use Java, if you wan't to win time and money use Perl

Thank you again for your insight ,not only about programming and languages but also about how companies think and why they think so.
Being relatively new in the industry the above has been the greatest learning.
Thanks again.
rgds
chimni