Jai Singh B. Chauhan vs Punjab National Bank And Ors

The Supreme Court upheld the Bombay High Court's dismissal of the appellant's writ petition challenging the rejection of his claim for coverage under the Punjab National Bank's Pension Scheme. The Court found that the appellant failed to exercise his option within the stipulated timeframes as per the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Pension Regulations, specifically noting the deadlines set by the Circular dated 27.6.1994 and the Gazette Notification dated 29.9.1995. The Court ruled that the appellant's lack of awareness did not excuse his failure to comply with the procedural requirements for opting into the Pension Scheme, thus affirming the High Court's decision.