L RAMACHANDRAN Vs. CHAIRMAN INDIAN BANK

JUDGEMENT

(1.) THE writ petition is directed against the impugned letter dated 19.7.2004 of the General Manager, Personnel Department, Head Office, Indian Bank, Chennai 600 001 and for a direction against the respondents to pay the arrears of pension due to the petitioner from November, 1993 with penal interest at the rate of 18% per annum and to continue to pay the pension as per the Indian Bank Employees' Pension Scheme 1993 and Rules 1995.

(2.) THE petitioner had joined in the services of the Indian Bank on 1.2.1953 as an Officer and after many promotions, he was ultimately promoted and was working as Zonal Manager in the Madras Zone as on September, 1988 in the grade of Deputy General Manager. He has submitted a letter on 22.4.1987 requesting the Bank to permit him to retire prematurely due to ill health and the said request was accepted and he was allowed to retire as per the communication of the Bank dated 5.9.1988 and his pensionary benefits were settled.

(3.) PER contra, it is the contention of the learned counsel for the respondents that at the time when the petitioner was allowed to be relieved the Pension Regulation as in existence at that time was applied and the amounts were settled on 29.10.1993. Under the new scheme which has come into existence in 1995, the petitioner has certain obligation to refund the bank's contribution towards provident fund with interest and unless that amount is refunded, there is no possibility to presume that the petitioner has exercised his option. At the time when the petitioner has given letter on 22.4.1987, there was no provision for voluntary retirement and such premature retirement was possible at that time only in public interest. By applying Regulation 19, the age of retirement was 58 years, which is now 60 years, and there was only a provision of compulsory retirement and there is no premature retirement. He would rely upon the judgment in J.K.Cotton Spinning and Weaving Mills Co. Ltd., Kanpur v. State of U.P. and others, 1991 I LLJ 39.