Hemant Gupta, J. - (1.) THE petitioner is an ex -serviceman and joined the respondent -Bank on 18.5.1981 as clerk. The Indian Banks' Association, of which the respondent -Bank is a member, evolved a Scheme called Voluntary Retirement Scheme after getting approval from the Government of India and advised the member -Banks to implement the same so as to curtail the staff's strength in the Bank. The respondent -Bank adopted the said Scheme on 29.12.2000 with certain modification. The Scheme was open to all permanent employees of the Bank, who have completed 15 years service or 40 years of age on 31.12.2000, except those specifically mentioned as ineligible.
(2.) THE Scheme was to remain open during the period 15.1.2001 to 31.1.2001 with an option to the Bank to close early/extend the Scheme, without assigning any reasons. The applications for voluntary retirement under the State Bank of India Voluntary Retirement Scheme (hereinafter referred to as 'the Scheme') was to be accepted during this period only. Apart from the ex -gratia amount, the other benefits which were contemplated to be payable under the Scheme were as follows: 6. Other benefits. a) Gratuity as payable under the extant instructions on the relevant date. b) Provident Fund contribution as per State Bank of India Employees Provident Fund Rules as on relevant date. c) Pension in terms of State Bank of India Employees' Pension Fund Rules on the relevant date (including commuted value of pension). d) Encashment of balance of privilege leave, as applicable, on the relevant date. On 10.1.2001, another circular (R.2) was issued by the Corporate Office of the Bank to all the Local Head Office. As a consequence of the said circular, another circular was issued by the Local Head Offices to all the Branch Offices in the Chandigarh circle i.e. where the petitioner was employed. It was pointed out that the issue as to whether an employee who submits an application for voluntary retirement under the Scheme can withdraw such application subsequently, has been examined. It was communicated that the Scheme is purely voluntary. The role of employee is active and it is his conscious decision and there will be no reason for his withdrawal of application at a later date. However, there could be few genuine cases, where the employee would later to withdraw the option submitted under the Scheme for various reasons and, therefore, an opportunity was given to the employee who has submitted an application for retirement under the Scheme to withdraw the application on or before 15.2.2001.
(3.) THE petitioner submitted his request for voluntary retirement and vide communication (P.3) dated 17.3.2001, the request of the petitioner for voluntary retirement under the Scheme was accepted. The relevant part of the said communication reads as under: Your request for retirement under the Scheme has been accepted and you will be relieved of your duties as at the close of business of 31.03.2001.;