Bank Pension Regulations Are Statutory & Binding on Both Bank & Employees: Bombay HC

Union Bank of India Vs Presiding Officer (Bombay High Court)

In the case of Union Bank of India Vs Presiding Officer, the Bombay High Court addressed the issue of voluntary retirement under the Union Bank of India (Employees’) Pension Regulations, 1995. The employee, who had been absent from work since 1995, applied for voluntary retirement on November 28, 1995. Despite the bank’s refusal to approve his application, the court noted that the bank failed to communicate its rejection within the three-month period mandated by the pension regulations. According to C

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