JUDGMENT

Arijit Pasayat, J.-Leave granted in both the special leave petitions.

2. Division Bench of the High Court of Bombay at Nagpur Bench has held by the impugned judgment that the respondents (hereinafter referred to as the employees ) were entitled to pension in terms of the Reserve Bank of India Pension Regulations, 1990 (in short the Pension Regulations ). The Reserve Bank of India (hereinafter referred to as the employer ) has questioned the correctness of the judgment.

3. Factual position is almost undisputed, and brief reference thereto would suffice.

Respondents were working in various capacities in the employer organization. The employees tendered resignation sometimes in 1988. Subsequent to their resignation, the Pension Regulations came to be operative. The said Regulation was made in exercise of powers conferred by clause (j) of sub-section (2) of Section 58 of the Reserve Bank of India Act, 1934 (for short the Act ). The Central Board of the employer-bank with the previous sanction of the Central Government made the Regulations. The Reserve Bank of India Staff Regulations, 1948 (in short Staff Regulations ) which were subsequently amended w.e.f. 7.2.1992 were in o