2004 (4) TMI 593 - SC - Indian Laws

Summary

Issues:
1. Validity of the voluntary retirement scheme introduced by the appellant Bank.
2. Employee's withdrawal of voluntary retirement application and acceptance of retiral benefits.
3. Challenge to the acceptance of voluntary retirement application under Article 226 of the Constitution.
4. Appellate court's decision on the withdrawal of the application for voluntary retirement.

Detailed Analysis:
1. The appellant Bank introduced a Voluntary Retirement Scheme in 2000, approved by its Board of Directors, operational from November 15 to December 14, 2000. An employee sought voluntary retirement on November 30, 2000, but later requested withdrawal on December 2, 2000. The Bank accepted the retirement request on January 22, 2001, and the employee withdrew retiral benefits on January 25, 2001. The employee challenged the acceptance of his retirement request under Article 226 of the Constitution, leading to a Single Judge of the High Court setting it aside, upheld in a letters patent appeal.

2. Referring to a previous judgment, the Supreme Court noted that an employee who withdraws a voluntary retirement application but accepts retiral benefits per the scheme is not entitled to withdraw the retirement request. In this case, the employee withdrew the retiral benefits on January 25, 2001, reinforcing the decision against allowing withdrawal of the retirement application.

3. Based on the above reasoning and the precedent set in the Punjab National Bank case, the Supreme Court allowed the appeal, setting aside the order and judgment under challenge. The Court ruled in favor of the appellant Bank, affirming that the employee, having accepted the retiral benefits, was not entitled to withdraw the voluntary retirement application.

4. Additionally, in light of the decision in the main appeal, related appeals were also allowed, setting aside the orders and judgments under challenge. The Court emphasized that there would be no order as to costs in these matters, concluding the legal proceedings on the issue of voluntary retirement and withdrawal of applications.