N. A. BRITTO, J.

( 1 ) IN this petition, the petitioner who is an employee of the respondent Vijaya Bank seeks direction against the said bank to treat his application for voluntary retirement as withdrawn and to continue him in service and not to relieve him with effect from 31-5-01 as consequential benefits.

( 2 ) THE petitioner is an employee who joined respondent Vijaya Bank on 2-7-1973 and in normal course was due to retire on 31 -3-08. The petitioner was the Assistant Manager at the time of filing this petition.

( 3 ) THE said bank is a body corporate governed under the provisions of banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 and the service conditions between the petitioner and the said bank are governed by the Vijaya Bank (Officers) Service Regulations while the service conditions of the staff are governed by the awards made from time to time and by bipartite settlements.

( 4 ) THE respondent bank first introduced what is known as Vijaya Bank (Employees') Pension Regulations, 1995, ("regulations", for short) as per the guidelines of the Indian Banks Association. The Regulations, inter alia, provided that on or after 1-11-1993 an employee who has completed 20 years of qualifying service could retire from service by giving notice of not less than three months in writing to the appointing authority. The said Regulations also provided that the qualifying service of an employee retiring voluntarily under the said Regulations was to be increased by a period not exceeding five years subject to the condition that the total qualifying service rendered by such employee shall not in any case exceed 33 years and it does not take him beyond the date of superannuation.

( 5 ) THEREAFTER by Circular No. 231/2000 dated 23-11-2000, the bank introduced a Scheme which is known as the Vijaya Bank (Employees') Voluntary retirement Scheme 2000. ("scheme", for short ). The Scheme came into force on 1-12-2000 and was to remain in force until 31-1-01. The object of the scheme was to enable the bank to make available human resources possessing skills matching with current and future requirements, of different age groups in right proportions to maintain a well balanced age profile enabling proper succession, planning and in optimum number at all levels in tune with the organizational structure and business strategies, who are highly motivated, committed, flexible and responsive to change. The terms of the scheme were contained in Annexure-I to the said circular and the proforma application was contained in Annexure-II.

( 6 ) CLAUSE 7 of the said Circular dated 23-11-2000 provided that the employees eligible to seek voluntary retirement under this Scheme and also eligible to seek voluntary retirement under Regulation 29 of the Regulations, shall give notice of seeking voluntary retirement under the said regulations by indicating to that effect specifically in the application seeking voluntary retirement under this Scheme.

( 7 ) THE Scheme, inter alia, provided that: 5. 0. 0. Application - The Scheme shall apply to all permanent employees in the service of the bank. 6. 1. 0. / 6. 1. 2.- Employees against whom Disciplinary Proceedings are contemplated/pending or are under suspension, were ineligible. 7. 1. 0.- Amount of ex gratia - The amount of ex gratia payable shall be at the rate of 60 days salary for each completed year of service or salary for the number of months service is left whichever is less. 8. 0. 0.- Other Benefits - In addition to the amount of ex gratia payable, an employee seeking voluntary retirement under the Scheme is eligible to receive the following other benefits: 8. 1. 0. . . . . . . 8. 2. 0.- Pension (including commuted value of pension) as per Vijaya bank (Employees) Pension Regulations, 1995 and employee's contribution towards Vijaya Bank Staff Provident Fund in case of Pension optees. 8. 3. 0. . . . . . 8. 4. 0. . . . . . . 11. 2. 0.- An employee aggrieved of the decision of the Compete