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S. M. SUBRAMANIAM
V. Sriganesh – Appellant
Versus
Indian Overseas Bank, Represented by the Chairman & Managing Director, Chennai – Respondent
JUDGMENT
(Prayer: Writ Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus, directing the Respondent Bank to extend to the petitioner option to join the pension scheme, namely, Indian Overseas Bank (Employees') Pension Regulations, 1995, in accordance with their circular bearing Misc.No: EST/62/2010-11 dated 30.08.2010.)
1.The relief sought for in the present writ petition is to direct the respondents to extend to the petitioner option to join the pension scheme, namely, Indian Overseas Bank (Employees') Pension Regulations, 1995, in accordance with their circular bearing Misc.No: EST/62/2010-11 dated 30.08.2010.
2. The petitioner was appointed in the respondent / Bank as clerk on 16.05.1979 and left the service of the Bank on completion of 21 years and 1 month service on 30.06.2000, due to unavoidable circumstances on resignation.
3. The petitioner states that Regulation 29 of the Pension Regulations providing for voluntary retirement after completing 20 years of qualifying service came into force from 01.11.1993. Due to delay in implementation of the pension regulations some employees, who were eligible to retire under Regulation 29 of Pen
Resignation and retirement have different legal implications, and the scope of a pension scheme may not extend to resigned employees.
The main legal point established in the judgment is that the distinction between voluntary retirement and resignation, as well as the forfeiture clause under the Indian Overseas Bank (Employees') Pen....
Rule 2(k) defines ‘date of retirement’ as means last date of month in which an employee attains age of superannuation or date on which he is retired.
The judgment established the distinction between resignation and voluntary retirement, upheld the disqualification of pensionary benefits in case of resignation, and emphasized that the petitioner kn....
(1) Resignation and Voluntary Retirement are different – Employees resigning from service and employees retiring from service voluntarily constitute two different classes – Treating two classes diffe....
Point of Law : In service jurisprudence, the expressions “superannuation”, “voluntary retirement”, “compulsory retirement” and “resignation” convey different connotations. Voluntary retirement and re....
Resignation entails forfeiture of past service, making the employee ineligible for pensionary benefits.
Resigned employees are not eligible for pensionary benefits under the Indian Overseas Bank Employees Pension Regulations, 1995.
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