( 1 ) SINCE all these writ petitions revolve around interpretation of the provisions of the scheme floated by respondent bank called PNB (Employees) Voluntary Retirement Scheme, 2001 (hereinafter REFERRED TO to as the scheme ) read with the Pension Scheme and regulations of the respondent bank called PNB (Employees) Pension Regulations, 1995 and effect thereof, I propose to take all these writ petitions together and dispose of by this common judgment/order.

( 2 ) ALL the petitioners are employees/officers of the respondent bank namely - Punjab national Bank which is a Nationalised bank and is a state within the meaning of Article 12 of the Constitution of India. Section 19 (2) (d) of Banking Companies Acquisition Act, 1970 empowers the Board of Directors of the bank to formulate any scheme regarding appointment, remuneration and other terms and conditions of service of the officers and other employees of the bank after prior permission of the Central Government and in consultation with the reserve Bank. Exercising the aforesaid powers the Board of Directors of the Punjab National bank, in its meeting held on 21st and 22/09/2000 approved the Voluntary retirement