GANESH KASHIRAM LAKADE Vs. CHAIRMAN CUM MANAGING DIRECTOR

JUDGEMENT

(1.) By the present petition, the petitioner has challenged the action of the respondents, i.e. Punjab National Bank ('Bank' for short) in the form of orders dated 10.8.2000, 18.10.2000 and 07.12.2000 refusing to grant him pensionary benefits under Punjab National Bank (Employees') Pension Regulations, 1995 ('P.N.B. Regulations' for short) on the ground that he was not entitled to the same, he having resigned from the service of the bank on 31.8.1989. The petitioner has further claimed grant of relief of pensionary benefits under the said P.N.B. Regulations along with interest thereon @ 18% per annum.

(2.) Factual matrix

(3.) On being noticed, respondents appeared and have filed their reply. They have taken a stand that the age of retirement of the petitioner was 60 years. Since the petitioner was not in the service of the Bank after attaining the age of 59 years, as such, the petitioner was not entitled to pensionary benefits. According to the Bank, case of the petitioner is of resignation and not that of retirement. The respondent/Bank never contested in their reply the correspondence made by the petitioner and that the amount of Rs.50,000/- was deposited by him by way of refund of Bank's contribution of Provident fund with interest thereon for the purposes of becoming eligible for pension. The respondent/Bank never took a stand that they refused to grant pensionary benefits to the petitioner for want of deposit of the amount of refund with interest. The defence taken is that the case of the petitioner is that of resignation or voluntary retirement but not retirement from service after completing age of retirement provided under the service rules.