ASSISTANT GENERAL MANAGER Vs. RADHEY SHYAM PANDEY
SUPREME COURT OF INDIA
ASSISTANT GENERAL MANAGER
RADHEY SHYAM PANDEY
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ARUN MISHRA,J. -
(1.)The question involved is whether the respondentemployees are entitled to pension on completion of 15 years of service as per the
State Bank of India Voluntary Retirement Scheme (for short, "the VRS
framed in 2000").
(2.)The matter has been referred to larger Bench due to conflict of opinion between the Judges as to the admissibility of pension under
(3.)After obtaining approval of the Government of India, the Indian Bank Association (IBA) evolved a Voluntary Retirement Scheme. The
Central Board of Directors of the State Bank of India (in short 'the
SBI') adopted and approved the scheme in its meeting held on
27.12.2000 for implementing the VRS for the employees of the bank by retiring them on completion of 15 years of service with the benefit
provided in the scheme. The scheme had been drawn up, keeping in
view the guidelines issued by the IBA. "Memorandum" dated
26.12.2000 was submitted by the Deputy Managing Director and the Corporate Development Officer for according approval to the proposals
contained in the Memorandum as also for adopting the scheme as
Annexure 'B' to the Memorandum.
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