MANOHARAN M Vs. SYNDICATE BANK

JUDGEMENT

(1.) THIS Writ Petition is filed praying for a writ of certiorari quashing the impugned communication dated April 25, 1997, produced as Annexure-M to the Writ Petition.

(2.) THE Petitioner joined the services of the first respondent- Bank on September 29, 1975. On October 29, 1993 the first respondent-Bank entered into a settlement with its officers where under pension was introduced as a second retiral benefit in lieu of contributory provident fund. In pursuance of the said settlement the bank issued circular dated June 7, 1994 calling upon the officers to submit their option. The petitioner exercised his option to accept the pension in terms of his letter dated September 30, 1994. Certain changes were brought out in the pension scheme and consequent upon the changes introduced to the pension scheme, the bank issued another circular dated November 4, 1995 (Annexure-D) permitting the officers to revoke the option exercised by them previously, if they so desired, on or before november 29, 1995 and the petitioner exercised his option and revoked his earlier pension option vide letter dated November 27, 1995.

(3.) BY a circular dated July 3, 1996 the bank clarified that encashment of privilege leave may be permitted to officers and workmen employees retiring voluntarily under pension regulations. As voluntary retirement under the pension regulations with encashment of privilege leave was more beneficial, the petitioner gave a letter for withdrawing the option exercised by him on november 27, 1995 and sought for the pensionary scheme. The Bank refused to act on his letter to revoke the earlier option exercised by the petitioner. The Bank also declined the request of the petitioner for voluntary retirement under pension regulations. Subsequently, on June 16, 1997 the petitioner resigned the post of officer held by him in the bank. His resignation was accepted as per the letter dated July 1, 1997 and he was relieved from the services of the bank with effect from july 5, 1997. The petitioner is aggrieved by the refusal of the bank to permit him to take voluntary retirement with pension under the pension regulations. Hence, the present petition.