- (1.) THE petitioners have approached this court under Article 226 of the Constitution of india seeking a writ of mandamus commanding the respondent-bank to pay pension to the bank employees who have retired under scheme of november 1, 2000, in terms of Pension regulations as were in force on that date taking actual emoluments disbursed during preceding ten months prior to the retirement as basis thereof, which includes weightage of 5 years of additional service. They have further sought a writ of mandamus commanding respondents to award interest at the rate of 11 % on 50% of ex gratia amount invested in Fixed Deposit, interest at the rate of 18% on delayed payment of retiral benefits and to make available to all the bank employees retired under the scheme free medical reimbursement as was admissible under the Rules.
(2.) PETITIONER No. 1 is an association of bank of India Retired Employees which is said to have been registered under Societies registration Act, 1860. Petitioners No. 2 to 5 are the bank employees who have retired under bank of India Voluntary Retirement Scheme, 2000 (hereinafter referred to as VRS 2000)circulated vide bank's circular dated November 1,2000.
(3.) THE learned counsel for the petitioner has confined their grievance only to two aspects of the matter (i) Application of normal retirement provisions in addition to benefit under VRS 2000, (ii) Free medical facilities. Sri Navin Sinha, learned senior advocate, appearing for the petitioners submitted that vrs 2000, para 5 provides benefits under the said scheme and para 5. 1 reads as under:- "5. 1. In addition to the normal retirement benefits available to an employee, according to the terms and conditions of his employment in the Bank, an employee whose application for voluntary retirement is accepted, will also be paid a lumpsum amount equivalent to 60 days salary (pay plus stagnation Increments plus special pay plus dearness relief) for each completed year of service or salary for the number of months service is left, whichever is less. ";