UNION BANK OF INDIA Vs. VENKATESH GOPAL MAHISHI

JUDGEMENT

(1.) This appeal is directed against the judgment and order dated 02.04.2002 passed by the High Court of Judicature at Bombay in Writ Petition No. 567 of 2002 whereby and whereunder Venkatesh Gopal Mahishi has been held entitled for pension under the Union Bank of India (Employees) Pension Regulations, 1995.

(2.) The facts, in brief, are that Venkatesh Gopal Mahishi, respondent No. 1 herein, joined the services of the Union Bank of India (hereinafter referred to as Rs. the appellant-bank) as a Peon on 02.05.1960. On 19.02.1991, the respondent No. 1 had submitted an application to the authority seeking retirement on medical grounds with further request to give employment to his dependent son on compassionate ground. The request of the respondent No. 1 was accepted by the appellant-bank and he was retired as Daftary from the service w.e.f. 01.11.1993 and later on his son has been given employment.

(3.) The appellant-bank, in exercise of the powers conferred by clause (f) of Sub-section (2) of Section 19 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), after consultation with the Reserve Bank of India and with the previous sanction of the Central Government, framed regulations called Union Bank of India (Employees) Pension Regulations, 1995 (for short "Pension Regulations"), whereunder pension option was made available to the employees of the appellant-bank in lieu of the employers contribution in the Provident Fund on the employees surrendering the same to the bank. The appellant- bank called for option to be exercised by the employees who had retired from service between 01.01.1986 and 31.10.1993. The respondent No. 1 accordingly submitted an application on 28.06.1994 for pension under the Pension Regulations, but his claim was rejected by the competent authority on 12.11.1994 inter alia on the ground that the respondent No. 1 was not eligible to the pension scheme as he was retired under different scheme prior to the date of enforcement of the Pension Regulations.