Punjab & Sind Bank & Ors. vs Mohinder Pal Singh & Ors.

The Supreme Court addressed the application of the decision in Bank of India vs. O.P. Swarnakar [(2003) 2 SCC 721] concerning the Punjab and Sind Bank Employee’s Voluntary Retirement Scheme, 2000. The Court held that the Scheme's provisions regarding ex gratia payments and other benefits were valid, emphasizing that an employee's withdrawal from the Scheme before acceptance does not negate their rights under the Scheme. The Court ultimately upheld the validity of the Scheme, allowing the Bank's appeal against the High Court's ruling that had declared it invalid.