Ifci Ltd. vs Sanjay Behari

The Supreme Court addressed the entitlement of employees of the Industrial Finance Corporation of India Ltd. (IFCI) who availed of the Voluntary Retirement Scheme (VRS) of 2008 to enhanced pension benefits following a retrospective revision of pay-scales. The Court interpreted the Industrial Finance Corporation of India Limited Pension Regulations, 1993, particularly the definitions of 'date of retirement' and 'retirement', affirming that voluntary retirement is included within these definitions. The Court held that the employees are entitled to the enhanced pension benefits as per the revised pay-scales, thus ruling in favor of the respondents.