Aloke Chakrabarti,J. - (1.) The petitioner No. 1 society and some of its members including office-bearers, who are all officers of various levels of State Bank of India, filed this writ petition complaining that although, they applied for voluntary retirement under the scheme floated in respect of employees of the bank and were otherwise eligible were refused the benefits of the said scheme unreasonably.
(2.) Facts stated in the petition which are relevant for its disposal are that Indian Banks' Association with the approval of the Government of India made a policy-decision introducing Voluntary Retirement Scheme in all public sector banks and advised them the salient features of the scheme by their letter dated August 31, 2000. Accepting the recommendation made by the Indian Banks' Association, the Central Board of Directors of the bank by its resolution dated December 27, 2000, approved a scheme called the SBI Voluntary Retirement Scheme (hereinafter referred to as the said Scheme).
(3.) In the said scheme it was provided that all permanent employees being officers and other employees with 15 years of service or 40 years of age were eligible to opt for voluntary retirement under the said scheme except those who have executed bonds and have not completed it or those who are serving abroad under special arrangements/bonds or those against whom disciplinary proceedings are contemplated/pending or are under suspension or those who were appointed on contract basis or those who are highly skilled and qualified staff or are specialist officers or watch and ward staff. Accordingly, the members of the petitioner No. 1 having eligibility under the said scheme applied for voluntary retirement under the said scheme.;