SANTOKH SINGH Vs. PUNJAB AND SINDH BANK

JUDGEMENT

(1.) The petitioner has filed the present writ petition with the prayer that the respondents be directed to make payment of pension and commutation and may be further directed to pay the cost of litigation. In the petition it has been stated that Punjab & Sindh Bank (in short "the Bank") introduced Punjab & Sindh Bank Employees Voluntary Retirement Scheme, 2000 (in short "the Scheme of 2000"). The petitioner being eligible to seek voluntary retirement under the Scheme of 2000 applied for the same and his case for voluntary retirement was accepted w.e.f. January 29, 2001. Petitioner has served 13 years of service with the bank. He being a pensioner applied for the commutation of pension with necessary documents. His case was sent to respondent No. 2 namely, Manager, Punjab & Sindh Bank, Head Office, Provident Fund Department, New Delhi who vide letter dated July 31, 2001 informed the petitioner that he was not eligible for pension. The petitioner thereupon served a noticed for demand of justice through his counsel on September 17, 2001. Vide letter dated October 8, 2001 the respondent No. 3 informed the petitioner that they have sought clarification from Indian Bankers' Association but no steps were taken thereafter to grant him pension.

(2.) The respondents have contested the writ petition and filed reply thereto. In the reply, it has been stated that the Scheme of 2000 was introduced by the Bank under the approval of the Government of India. All the employees of the bank who had put in 15 years of service or attained 40 years of age were eligible to apply voluntary retirement under the Scheme of 2000. The Punjab & Sindh Bank (Employees), Pension Regulations, 1995 (in short "the Regulations") are statutory regulations. Clause 28 thereof provides that the superannuation pension shall be granted to an employees who has attained the age of superannuation specified in the Service Regulation or Settlements. It has also been provided that pension shall also be granted to an employee who opts to retire before the date of superannuation but after rendering services for a perio'd of minimum 15 years. Originally the period of 20 years was prescribed as qualifying service for grant of voluntary retirement under Clause 29 of the Regulations (sic) of 1995. However as a special measure this period reduced to 15 years by amending Clause 28 of the Regulations in exercise of powers conferred on the Bank under Section 19 read with Section 12(2) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 in consultation with the Reserve Bank of India and the previous sanction of the Central Government. The period was purposely reduced to 15 years so that an employee who opts for voluntary retirement under the Scheme of 2000 before attaining the age of superannuation could get pensionary benefits. It has therefore been prayed that the writ petition being devoid of merit may be dismissed.

(3.) I have heard Mr. Vijay Mehta learned counsel appearing for the petitioner and Mr. Jagdish Vyas learned counsel appearing for the respondents and perused the record.