JUDGMENT

Kapadia, J.-Leave granted.

2. The question in these appeals concerns determination of the scope of the judgment of this Court in the case of State Bank of India & Ors. v. O.P. Swarnakar & Ors. reported in [(2003) 2 SCC 721] as also the judgment of this Court in the case of State Bank of Patiala v. Jagga Singh decided on 13.3.2003 in Civil Appeal No. 2341 of 2003.

3. The dispute lies within a narrow compass. State Bank of Patiala, subsidiary of State Bank of India, issued a circular No. PER/VRS/48 dated 20th January, 2001 publishing their Voluntary Retirement Scheme (hereinafter referred to as the SBPVRS ) drawn up in the light of the guidelines issued by the Indian Bank Association. The object of the SBPVRS inter alia was to downsize the existing strength of the employees and to increase profitability. The scheme was to open on February 15, 2001 and it was to close on 1st March, 2001 (inclusive of both days). The applications under the SBPVRS were to be accepted during the period when the scheme was to remain open between 15th February 2001 to 1st March 2001. Clauses (5), (8) and (9)(i) of the Scheme are relevant for the purpose of deciding this matter and accordingly, they are quoted herein below:-

"5. Period

The scheme will remain open during the period 15th February 2001 to 1st March 2001 (inclusive both days) with an option to the Bank to close early/extend the scheme without assigning any reason. The applications for Voluntary Retirement under the SBPVRS will be accepted during this period only.

8. Other features

The Bank intends to control the outflow of personnel according to its requirements. Towards this end, Bank retains the discretion to limit the number of employees to be allowed to retire in each category of staff viz. offices/clerical-cash/subordinate, to be covered under SBPVRS. As such, the Bank will have the sole discretion as to the acceptance or the rejection of the request for retirement under SBPVRS depending upon the requirements of the Bank. For the purpose of exercising discretion in this regard, category wise lists of eligible applicants would be prepared in descending order of their age and applications of employees coming in higher age groups above cut-off age would be accepted; the cut-off age in each category will of course depend upon the acceptable number of employees who can be permitted to retire.

No voluntary retirement shall be deemed to have come into effect unless the decision of the Competent Authority has been communicated in writing, which will be convened within a maximum period of two months after the date of closure of receipt of applications i.e. 01.03.2001.

9. General Conditions

(i) Staff members desirous of availing benefits under the scheme will have to submit a written application to the Competent Authority, through proper channel, in the specified format, within the period for which the Scheme is kept open (i.e. 15.02.2001 to 01.03.2001). The application once made cannot be withdrawn and the same will be treated as irrevocable. While making application, the employee will be required to declare the name of nominee, to whom the payment may be made in the event of death of an VRS optee after the competent authority has accepted his VRS application but before payment has been effected. (emphasis supplied)"

4. To complete the chronology of events, respondents herein applied under the SBPVRS between 15th February 2001 and 1st March 2001. Respondent No.1 withdrew his application for voluntary retirement on 3/5th March, 2001. Similarly, respondent No.2 withdrew his application for voluntary retirement on 2nd March 2001. Respondent No.3 withdrew his application for voluntary retirement on 5th March, 2001. However, on 3rd April, 2001, the bank refused permission to the said respondents to withdraw from the scheme since their withdrawal was made after the date of the closure of the scheme on 1st March, 2001. The decision of the