KEWAL KRISHAN Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) THIS judgment disposes of CWP No. 13046, 12732, 12538 and 12819 of 1993.

(2.) A challenge has been made to the guidelines issued by the Punjab National Bank providing for transfer of the employees of the New Bank of India and also to the orders passed pursuant to the guidelines transferring the petitioners, in these petitions under Articles 226/227 of the Constitution of India.

(3.) IN exercise of the powers conferred by Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), the Central Government after consultation with the Reserve Bank of India, framed a scheme called the New Bank of India (Amalgamation and Transfer of Undertaking) Scheme, 1993 (hereinafter referred as the Scheme ). On the commencement of the Scheme, the undertakings of the New Bank of India were transferred to the Punjab National Bank (hereinafter to be referred to as the 'transferee Bank' ). Para 5 (2) of the Scheme envisages that every Officer or other employee of the New Bank of India (hereinafter the transferor bank) shall become, on the commencement of this scheme an officer or other employee, as the case may be, of the transferee bank and shall hold his office or service in that bank on the same terms and conditions and with the same rights and conditions and with the same rights to pension, gratuity and other matters as would have been admissible to him under the transferor Bank. Para 5 of the Scheme reads thus: