PUNJAB NATIONAL BANK vs RAM KISHAN

The Supreme Court held that under Regulation 28 of the Punjab National Bank (Employees) Pension Regulation 1995, an employee must complete a minimum of 15 years of service to be eligible for pension benefits. The Court found that the respondent, who had only completed 14 years, 2 months, and 19 days of service at the time of voluntary retirement under the VRS 2000, was not entitled to pension. The Court upheld the lower court's decision, affirming that acceptance of the voluntary retirement application did not waive the statutory requirement for pension eligibility.