RAM PHAL VERMA Vs. SCOOTERS INDIA LTD

JUDGEMENT

(1.) The petitioners have preferred the present writ petition praying inter alia for quashing the award dated 17th March, 2005 passed by the Presiding Officer, Industrial Tribunal (hereinafter referred to as 'the industrial adjudicator') in ID No.129/97.

(2.) Briefly narrated, the facts of the case are that the respondent No.1, Scooters India Ltd., a Government of India undertaking (hereinafter referred to as 'the respondent company'), floated a Voluntary Retirement Scheme (for short 'VRS') on 24th December, 1993 applicable to the workers who had rendered services for at least 10 years. In response to the VRS, out of a strength of around 1600 workers, about 1000 workers opted for VRS. It may be noted that the VRS had to be floated by the respondent company in view of the fact that it suffered huge financial losses and was declared a sick company under the Sick Industrial Companies (Special Provisions) Act, 1985 and referred to the Board for Industrial and Financial Reconstruction (BIFR).

(3.) Pursuant to the aforementioned VRS having been floated by the respondent company so as to close down its Fan unit in Delhi on the ground of sickness of the unit, the petitioners accepted the VRS in January, 1994. One of the terms and conditions of the VRS is as below: