S S SUNDARAM Vs. INDIAN OVERSEAS BANK

JUDGEMENT

(1.) The writ petitioner has prayed for the issue of a writ of mandamus directing the respondent-Bank to pay full pension to the petitioner taking into account the increase in qualifying service upto 33 years in terms of Regulation 29(5) of Indian Overseas Bank (Employees') Pension Regulations, 1995 with effect from the date of the petitioner's voluntary retirement on 20.3.1995 together with interest thereon at 24% per annum.

(2.) The writ petition is taken up with the consent of counsel on either side. Heard Mr.C.R.Chandrasekaran, learned counsel for M/s.Ayyar and Dolia, appearing for the petitioner and Mr.Srinivasamurthy for Mr.N.G.R.Prasad appearing for the respondent.

(3.) The petitioner claims that he was appointed in the respondent-bank which is a nationalised bank. Excepting for a short break in service between 23.2.1963 and 1.9.1964, the petitioner continued in service and was promoted to the cadre of Junior Management Grade Scale-I on 1.6.1982. The petitioner retired voluntarily on 23.9.1995. Between 1.3.1965 to 23.9.1995 the petitioner has worked in the respondent bank.