PUNJAB NATIONAL BANK Vs. CHAMA RANI TANDON

JUDGEMENT

(1.) -HEARD the learned advocates for the respective parties.

(2.) THE facts of the case, very briefly, are as follows: the writ petitioner, Lakshmi Narayan Tandon, was an employee of hindustan Commercial Bank Ltd. and he retired from his service on superannuation on 30. 09. 1986 and it appears that the writ petitioner's terminal benefits were paid to him by Punjab National Bank. In this context it may be put on record that on 24. 05. 1985 (when the petitioner was in services with the Hindustan Commercial Bank) a moratorium had been imposed in respect of Hindustan Commercial Bank Ltd. , Kanpur and ultimately the said Bank merged with the Punjab National Bank by virtue of a notification dated 18th December, 1986. It further appears that by a Memorandum of Settlement dated 29th October, 1993 between a large number of banks (through the Indian Banks' Association) and their workmen (being represented by the All India Bank Employees' association) a Settlement was recorded and a copy of such Memorandum of Settlement has been included in the paper book. Punjab National Bank (the appellant in the present appeal, and for the sake of brevity hereinafter referred to as PNB) was a party to such settlement.

(3.) IT appears that the Indian Banks' Association agreed to introduce a pension scheme in banks for the workmen/employees in lieu of employers' contribution to the Provident Fund with effect from 1st november, 1993. From the memorandum of settlement it will appear that amongst the various categories of employees/retired employees who would be entitled to the said pension scheme the following category of retired employees would be entitled to have the benefit of such scheme: "retired employees who were in service of the bank/merged bank on or after 31st December, 1985 and retired on or after 1st January, 1986 but before 1st November, 1993 provided that such retired employees apply for it on their own on the format prescribed by each bank and refund within a period of six months, reckoned from 1st November, 1993, the bank's entire contribution to the provident fund including interest received qualifying service in the bank before being merged to a new bank will also be taken as service in the same bank. However, the requirement of qualifying service shall not be applicable for drawing family pension in case an employee dies while in service. " (quoted from clause 2 (iii) of the said memorandum of settlement appearing at page 29 of the paper book ).