JUDGMENT

ALTAMAS KABIR,J.

1. Leave granted.

2. The respondent herein was an employee of the Bank of Baroda, the appellant herein. On 14th December, 2000, the Bank introduced the `Bank of Baroda Employees Voluntary Retirement Scheme-2001' (hereinafter referred to as "BOBEVRS-2001"). Under the said Scheme, along with terminal benefits pension in terms of the Bank of Baroda (Employees Pension) Regulations, 1995, (hereinafter referred to as "the Pension Regulations, 1995") was to be provided to employees who opted for the VRS Scheme. The said Scheme provided that in order to be eligible to opt for the Scheme all permanent employees of the Bank working in India or India-based Officers working abroad, who as on 31.3.2001 would have completed/ would be completing minimum 15 years of service OR who would have completed/would be completing 40 years of age would be eligible to apply for voluntary retirement under the BOBEVRS-2001.

3. Claiming to be eligible under the Scheme, having completed 40 years of age, the respondent applied for voluntary retirement under the said Scheme. At the relevant point of time the respondent had completed only 13 years of service in the appellant Bank. However, the