SHEELKUMAR JAIN vs NEW INDIA ASSURANCE CO. LTD. .

The Supreme Court held that the appellant, having resigned from his position in the Liberty Insurance Company, was not entitled to benefits under the General Insurance (Employees') Pension Scheme, 1995, as per Clause 22 which stipulates that resignation results in forfeiture of past service. The Court emphasized that the Pension Scheme, enacted under Section 17-A of the General Insurance Business (Nationalised) Act, 1972, does not apply to those who have resigned. The appeal was dismissed, affirming the decision of the Madhya Pradesh High Court.