LIC OF INDIA vs KRISHNA MURARI LAL ASTHANA AND ANR ETC.

The Supreme Court addressed the interpretation of pension rights under the Life Insurance Corporation Act, 1956, specifically Sections 21 and 48. The Court held that pension is not a bounty but a right that must be conferred in accordance with the rules and policies established under the Act. The appeals were decided in favor of the employees, affirming their entitlement to the pension benefits promised by the Corporation, thereby reinforcing the legal principle that pension rights are protected under statutory provisions.