CENTRAL BANK OF INDIA vs TARA CHAND

The Supreme Court upheld the Rajasthan High Court's decision affirming the entitlement of an employee to pro-rata pension upon opting for voluntary retirement under the Central Bank of India Employees Voluntary Retirement Scheme, 2001. The Court interpreted Clause 6(ii) of the Scheme in conjunction with the Central Bank of India (Employees’) Pension Regulations, 1995, establishing that eligibility for voluntary retirement does not negate the right to pension benefits. The appeal by the Central Bank of India was dismissed, reinforcing the legal principle that employees who meet the criteria under the Scheme are entitled to pension benefits as per the Regulations.