ALLAHABAD BANK vs A.C.AGGARWAL

The Supreme Court addressed the entitlement of an employee to pension after voluntary retirement under the Payment of Gratuity Act, 1972. The Court held that the respondent, having opted for gratuity under the 1972 Act, was not entitled to pension under the Allahabad Bank Employees’ Pension Scheme as per the provisions of Section 12(2) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. The appeal was dismissed, affirming the decision of the Delhi High Court.