LALA RAM SHARMA S/O LATE SHRI AJI RAM SHARMA, AGE ABOUT 59 YEARS, RESIDENT OF 92./276, SHIPRA PATH, MAN SAROVAR, JAIPUR RETIRED SENIOR MANAGER, RAJASTHAN STATE CO Vs. RAJASTHAN STATE CO

JUDGEMENT

(1.) All these petitions raise a common question of law pertaining to the right of the petitioners all officers of the respondent Rajasthan State Cooperative Bank Ltd. (hereinafter 'the Bank') for payment of gratuity under Rule 7 of the Service Rules and Regulations, 1964 (hereinafter 'the Rules of 1964') @ 20 months pay last drawn on the date of their superannuation without the limit of Rs.3.50 lakhs than extant under Sec. 4 (3) of the Payment of Gratuity Act, 1972 (hereinafter 'the Act of 1972').

(2.) SBCWP No.6343/2008, Lala Ram Sharma Vs. Rajasthan State Cooperative Bank Ltd. & Another , is taken as the lead case.

(3.) The petitioner when superannuated on 30.4.2007 after 38 years of service with the respondent Bank was a Senior Manager. His last gross salary i.e. Basic+DA was Rs. 28,114.14. The respondent Bank governed by the Rajasthan Cooperative Societies Act, 1965 now replaced as Rajasthan State Cooperative Societies Act, 2001 (hereinafter 'the Act of 2001') framed Service rules and Regulations, 1964 (hereinafter 'the Regulations of 1964') approved by the Board of Directors in its meeting dated 6-1-1964 to regulate the service conditions of its employees. Rule 7 of the Regulations of 1964 provides for payment of gratuity, and reads as under:-