STATE BANK OF INDIA vs NANAK CHAND JAIN

The Supreme Court ruled that under Section 33(2) of the Industrial Disputes Act, 1947, the payment of three months' wages in lieu of notice satisfies the requirement of one month's wages as stipulated in the proviso. The Court held that when a longer period of payment is made, it encompasses the shorter period, thus no additional payment is necessary. The appeal by the Bank was allowed, confirming the Tribunal's decision regarding compliance with the Sastry Award.