JUDGMENT

 The appellant was an employee in the Industrial Finance Corporation of India. When he crossed 50 and before reaching 55, he was compulsorily retired from service in exercise of the powers in Regulation 33(1) of the Staff Regulations of the Industrial Finance Corporation of India. The case of the appellant is that Regulation 33(1) could be invoked subject to Explanation III to the Regulations. This contention was not accepted by the High Court and hence this appeal. For immediate reference the Relation 33(1) and the Explanation III are set out hereunder:

"33 Superannuation and Retirement.

(i) An employee, other than an employee in Class IV, shall retire on completion of fifty eight (58) years of age, whereas an employee in Class IV, shall retire when he attains the age of 60 years. The Corporation shall, however, have absolute right to retire an employee, if it considers necessary to do so in the interest of the corporation, by giving him notice of not less than three months in writing, on completion of 30 years of service or 50 years of age, whichever shall first happen, or at any time thereafter. Such option to retire from the service shall also be available to an employee