RATTAN SINGH Vs. INDIAN OVERSEAS BANK
HIGH COURT OF JAMMU AND KASHMIR
INDIAN OVERSEAS BANK
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(1.) THE facts are not in dispute.
(2.) PETITIONER was working as Special Assistant in the respondent Bank and was posted at Srinagar. The respondent -Bank issued a circular
Memo No.7(f)86 of 2000 -2001 dated 2nd of Dec2000 called IOB
Officers/Employees Voluntary Retirement Scheme -2000(here -in -after
referred to as VRS). This Scheme was valid for a period of five weeks
w.e.f. 15th of Dec2000 to 19th of Jan01. The petitioner applied under the
VRS on 11th of Jan01, seeking voluntary retirement. The application of
the petitioner for voluntary retirement was considered and the same was
accepted vide its decision dt. 19th of Jan01, which decision was
communicated to the Regional Office, Chandigarh on 22nd of Jan01. The
petitioner moved an application on 29th of Jan01 to respondent No.4
whereby he withdrew his offer seeking voluntary retirement under the VRS.
The said application of the petitioner was rejected and he was directed
to be relieved w.e.f. 31st of Jan01. Through the medium of present writ
petition, the petitioner is seeking quashment of orders dt. 22nd of Jan01
and 31st of Jan 01.
(3.) MR . A.V. Gupta, learned Senior Advocate, appearing on behalf of the petitioner submitted that the petitioner was to relinquish the charge
on 31st of Jan01 and it was well before the aforesaid date, the
petitioner had made a request to withdraw his offer of voluntary
retirement, and therefore, the same could not be rejected by the
Before considering the contention of the learned counsel for the petitioner it will be appropriate to notice the relevant provisions
of the scheme: - -
"IOB Officers/Employees Voluntary Retirement Scheme -2000
1. OBJECT: A scheme to adopt measures to have optimum human resources at various levels in keeping with the business strategies,
skill profile to achieve balanced age and requirement of the Bank.
2. NAME OF THE SCHEME: The Scheme shall be called as IOB Officers/Employees Voluntary Retirement Scheme -2000.
3. OPERATION OF THE SCHEME: The Scheme shall remain in operation for five weeks from 15.12.2000 to 19.01.2001. Eligibility:
4.1 All permanent employees with 15 years of service or 40 years of age.
4.2 However, the employees falling in the following categories are not eligible to seek voluntary retirement under the scheme. (a)
Specialists officers/employees who have executed service bonds and have
not completed it. (b) Officers/employees serving abroad under special
arrangements/bonds. (c) Employees against whom disciplinary proceedings
are contemplated/pending or are under suspension. (d) Employees appointed
on contract basis. (e) Highly skilled and qualified employees who have
been given the specialized training in the area of Credit, Foreign,
Exchange, Investment and Information Technology, etc. (f) Any other
category of employees as may be specified by the Board
AMOUNT OF EX -GRATIA: ..........
OTHER BENEFITS: ..........
MODE OF PAYMENT: ..........
COMPETENT AUTHORITY: .......... General conditions: (1) to (12). (13) It will not be open for an officer/employee to withdraw
the request made for voluntary retirement under the scheme after having
exercised such option. The option once exercised is irrevocable.";
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