ALLAHABAD BANK vs A.INDIA ALLAHABAD BANK RETIRED EMPS.ASSN

The Supreme Court held that retired employees of the Allahabad Bank are entitled to gratuity under the Payment of Gratuity Act, 1972, despite having opted for pension benefits. The Court emphasized that the statutory right to gratuity cannot be waived by opting for pension, as per the provisions of the Act. The judgment of the Allahabad High Court was upheld, directing the bank to pay gratuity to its retired employees.