M. VENKATESWARA RAO vs ANDHRA BANK REPRESENTED BY ITS CHAIRMAN MANAGING DIRECTOR

The Supreme Court addressed the applicability of the Life Insurance Corporation of India (Employees) Pension Rules, 1995 to employees who resigned before the rules were notified but after their retrospective effective date. The Court held that employees who resigned after the cut-off date of 1.1.1986 but before the rules came into force on 1.11.1993 are entitled to benefits under the Pension Rules, establishing that resignation does not negate eligibility for retrospective benefits. The matter was referred to a larger bench due to divergent judicial views on the issue.