VIJAYA BANK Vs. PRASHANT B. NARNAWARE

JUDGEMENT

(1.) CIVIL APPEAL NO.11708 of 2016 : Appellants have challenged judgment and order dtd. 20/8/2014 passed by the High Court quashing clause 11(k) of the appointment letter whereby the respondent-employee [Hereinafter, respondent] was required to pay liquidated damages of Rs.2.00 lakhs in the event of leaving employment of the first appellant-bank [Hereinafter, appellant-bank] prior to three years and consequentially the appellant-bank was directed to refund the said sum to the respondent.

(2.) In 1999, respondent had joined the appellant-bank as a Probationary Assistant Manager. His service was confirmed in 2001. Thereafter, he was promoted to Middle Management Scale- II. In 2006, appellant-bank issued a recruitment notification for appointment of 349 officers in different grades. Clause 9 (w) of the recruitment notification reads as follows:-

(3.) Cognizant of the said condition, respondent applied to the post of Senior Manager-Cost Accountant at basic pay of Rs.18,240.00 and was selected for the said post.