M.R.Prabhakar & Ors vs Canara Bank & Ors

The Supreme Court addressed the claims for pension by former officers of Canara Bank who resigned before the implementation of the Canara Bank Pension Regulations, 1995, and the Statutory Settlement under the Industrial Disputes Act, 1947. The Court held that the absence of a legal definition for 'voluntary retirement' in the relevant regulations at the time of resignation meant that the appellants were not automatically disentitled to pension benefits. The Court emphasized that Regulation 22, which could potentially deny pension benefits, was not in effect when the appellants resigned, thus ruling in favor of the appellants' claims for pension.