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Home -> Finance -> Full Story
HC upholds VRS withdrawal option of bank staff
Saturday, March 23 2002 15:02 Hrs (IST)

Jodhpur: The Rajasthan High Court has upheld the right of an employee of a public sector bank to withdraw his voluntary retirement option and directed the bank to re-instate him in service.

A single judge Bench, headed by Justice B S Chauhan, in his recent orders asked the Central Bank of India to take back into service petitioner Suresh Chand Jain, an Assistant Manager, who was asked to retire on June 28, 2001 even after he withdrew his voluntary retirement option earlier.

The petitioner contended that the bank asked its employees to opt for a voluntary retirement scheme during a specific period but the latter failed to specify as to when the scheme would be operational.

Under the provisions of the scheme, the bank held with it its right to make retire or keep in service an employee. Although there was initially no provision for an employee to withdraw his retirement option, the bank subsequently gave permission to other employees.

Cancelling the retirement order, the Court asked the bank to re-instate the petitioner back in service.

The Court also held that the petitioner would be entitled for 50 per cent pay for the period he remained out of the job.

PTI







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