Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Pension scheme introduced by Bank Rejected by Management Service Law Published in Official Gazette |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Dismissed |
Headnote | Service Law: Punjab National Bank (Employees) Pension Regulations, 1955: Pension scheme introduced by Bank-Published in Official Gazette-option exercised by employees belatedly-Rejected by Management-Held, employee having not exercised option within time, not eligible to be covered by Pension Scheme-It cannot be said that publication in Official Gazette cannot be treated as notice-Notice. Respondent No. 1, the employer-Bank, in exercise of power under s.19(2)(f) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, framed the Punjab National Bank (Employees) Pension Regulations, 1995 giving option to the employees to opt for Pension Scheme on or before a specified date. During the draft stage the time for option was further extended. After finalization of the scheme, it was published in the Official Gazette. Again as per the Gazette Notification, the option was to be exercised within 120 days from the date of notification. Appellant-employee did not exercise the option within the prescribed period, and made a representation after two years with a request to be covered by the Scheme. The Bank rejected his claim. The High court dismissed his writ petition observing that the employee not only did not exercise the option within time, but also utilized the amounts deposited in the Provident Fund Account which was substituted by the Pension Scheme for those who exercised the option. In the appeal filed by the employee it was contended that he could not exercise the op!ion within time as during the relevant period initially he was on leave and later he was not allowed to join the duty; and even otherwise, in view of the letter dated 9.2.2002 issued by the Central Government, the Bank was permitted to accept options exercised belatedly, |
Judge | Hon'ble Dr. Justice Arijit Pasayat |
Neutral Citation | 2005 INSC 301 |
Petitioner | Jai Singh B. Chauhan |
Respondent | Punjab National Bank And Ors. |
SCR | [2005] Supp. (1) S.C.R. 743 |
Judgement Date | 2005-07-20 |
Case Number | 3845 |
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