UTTAMCHAND MULCHAND Vs. INDIAN OVERSEAS BANK

JUDGEMENT

(1.) THIS petition involves consideration of interpretation of Clause 10 of "promotion Policy for Officers" of respondent No. 1 Bank duly published by the Bank based on the guidelines issued by Government of India under the relevant service regulations and application thereof. The principal questions arising for consideration of the Court in this petition are as under:

(2.) FOR purpose of considering the above referred questions in detail, it is necessary to summarise the relevant facts emerging from the record of this petition. ELEVANT FACTS (PART I)

(3.) THE respondent No. 1 is one of the nationalised banks and is the banking company constituted under the Banking Companies (Acquisition and Transfer of Undertaking) Act, V of 1970. On 1st April, 1972 the petitioner joined service with the 1st respondent bank as a clerk. On 22nd December, 1976 the petitioner was promoted as "officer" in the Junior Management Grade Scale I. Sometime from the year 1982, the petitioner worked with the respondent No. 1 as an Accountant (Deputy Manager) at its Worli Branch.