Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970

The appellant bank promoted the respondent officer to MMG Scale II on the condition that he serve two years in a rural branch, and barred any officer who refused such posting from promotion for two years. The respondent refused the rural posting in 1990, later cancelled a subsequent posting in 1992, and applied for pro…

Sudhir Kumar Consul was appointed as a clerk in Allahabad Bank in 1976 and promoted to officer in 1983. After taking voluntary retirement in 2001, he sought pension under the Old Pension Scheme, invoking Regulation 46(1) of the Allahabad Bank Officers Service Regulations, 1979, which provides pension in lieu of gratuit…

The Supreme Court examined the validity of Voluntary Retirement Schemes (VRS) introduced by State Bank of India and other nationalised banks, focusing on whether an employee’s application for retirement could be withdrawn before the bank’s acceptance despite a clause stating the request was irrevocable. The Court held …

S.K. Kool, a clerk of Bank of Baroda, was punished for gross misconduct by being removed from service with "superannuation benefits as would be due otherwise" under clause 6(b) of the 2002 Bipartite Settlement. The Bank denied his pension and leave encashment, relying on Regulation 22 of the Bank of Baroda (Employees) …

The respondent, a manager of Punjab National Bank, was charged with serious irregularities and subjected to a departmental inquiry under the bank's 1977 service regulations. The disciplinary authority found him guilty on three charges and, despite the inquiry officer’s finding on the fourth charge, imposed removal from…

The Gujarat Maritime Board (GMB), a statutory authority created under the Gujarat Maritime Board Act, 1981 to develop minor ports, applied to be registered as a charitable institution under Section 12A of the Income‑Tax Act, 1961 to claim exemption under Section 11. The Commissioner of Income Tax rejected the applicati…

The Andhra Pradesh amendment of Section 73 of the Indian Stamp Act gave the Collector power to inspect, seize and impound any registers, books or documents, including those in banks, without any procedural safeguards. The High Court struck down this provision as unconstitutional, and the State appealed. The Supreme Cou…