MADHUSUDAN GOVINDRAO TRIVEDI NAGPUR Vs. UCO BANK CALCUTTA

JUDGEMENT

(1.) The petitioner who is serving in the respondent Bank as an Assistant Cashier applied under the Voluntary Retirement Scheme dated November 16, 2000 for voluntary retirement. The petitioner made this application on January 1, 2001 apparently without knowing the full implications of the Scheme. Thereafter on receiving complete information about the features of the Scheme, he decided to withdraw from the Voluntary Retirement Scheme. He then wrote a letter expressing his inability to accept the Voluntary Retirement Scheme and sought permission to withdraw the option submitted by him on January 1,2001. The Bank apparently declined to consider his withdrawal and was about to accept the petitioner's application for voluntary retirement when the petitioner approached this Court.

(2.) It is an admitted fact that the respondent Bank had not communicated the acceptance of petitioner's application for voluntary retirement. Thus the petitioner prays for a direction to the respondents to treat the option dated January 1, 2001 for Voluntary Retirement Scheme as cancelled by allowing the petitioner to withdraw it.

(3.) Shri Thakur, the learned advocate for the petitioner submits that it is settled law in the Union of India and Anr. v. Wing Commander T. Parthasarathy, 2001 1 SCC 158, that "recommendation or an application for voluntary retirement can be withdrawn any time before its acceptance."