ISDICTION Writ Petition Nos
60 1 602 of 1980
Under Article 32 of the Constitution of India
MK Ramamurthy J Ramamurthy Mrs Chandan Ramamurthy and MA Krishnamurthy for the Petitioners
K Parasaran Attorney General DN Mishra Ms Meera Mathur OC Mathur CV Subba Rao
RP Srivastava
Hemant Sharma and P Parmeswaran for the Respondents
The petitioners in these Writ Peti tions filed under Article 32 of the Constitution of India have prayed for a declaration that rule 3 of the Rules for Age of Retirement contained in Annexure I to the Central Bank of India Officers  Service Regulations 1979 herein after referred to as the Regulations  framed under regula tion 191 of the Regulations is unconstitutional and void and to direct the Central Bank of India hereinafter re ferred to as the Bank  to fix the age of retirement of all the officers of the Bank uniformly at 60 years
They have further prayed for the quashing of the Order dated 252
1980 issued by the Chief Manager of the Bank at its Regional Office New Delhi retiring Petitioner No 1 BS Yadav from service as being illegal and unconstitutional and for a declaration that Petitioner No 1 B S
Yadav continues or shall be deemed to be i the service of the Bank till he attains the age of 60 years with consequential benefits
The petitions are filed by BS Yadav who was working as an officer of the Bank and the All India Central Bank Employ ees  Federation
169 The Bank came to be established under the Banking Compa nies Acquisition and Transfer of Undertakings Act 1970 hereinafter referred to as the Act  under which the banking business of 14 banking companies was nationalised
At the commencement the process of nationalisation of these banks was not smooth sailing
On the Government of India taking a decision to nationalise the banking business of 14 banking companies the Banking Companies Acquisition and Transfer of Undertakings Ordinance 8 of 1969 was promulgat ed by the President on July 19 1969
The Ordinance provided for the acquisition and transfer of the undertakings of certain banking companies which were 14 in number in order to serve better the needs of development of the economy in conformity with the national policy and objectives and for matters connected therewith or incidental thereto
Under the Ordinance 14 corresponding new banks  were established
The Bank which is involved in these cases is the corresponding new bank of the Central Bank of India Ltd which was one of the banking companies whose undertaking was taken over under the Ordinance
The corresponding new banks were authorised to carry on and transact the business of banking as defined in clause b of section 5 of the Banking Regulation Act 1949 and also to engage in one or more forms of business specified in sub section 1 of section 6 of the Act
The Chairman of the banking company whose business was taken over holding office immediately before the commencement of the Ordinance was appointed as the custodian of the corre sponding new bank
The general superintendence direction and management of the affairs and business of the corre sponding new bank was vested in the custodian who was to be the Chief Executive Officer of that bank
The above Ordi nance was replaced by the 22 of 1969
The constitutional validity of both the Ordinance and the 22 of 1969 was questioned before this Court in Rustom Cavasjee Cooper vs Union of India  By the decision rendered in the said case this Court declared the Ordinance and the 22 of 1969 as invalid and the action taken or deemed to have been taken in exercise of the powers under them as unauthorised
The above judgment of the Court was pronounced on February 10 1970
The effect of the judgment was that the undertakings of the 14 banking companies whose business had been acquired by the Central Government trader the authority of the above said Ordinance and the Act reverted to the banking companies
With a view to resuming control over the business of those banking companies the President again promulgated on February 14 1970 the 170 Banking Companies Acquisition and Transfer of Undertakings Ordinance 1970
The provisions of the earlier Act which were struck down by this Court had been duly modified by promulgating the said Ordinance
The said Ordinance provided for the acquisition and transfer of the banking business of the said banking companies with effect from July 19 1969 ie the date on which those undertakings were initially acquired by the Central Government
This Ordinance was replaced by the Act within a short period which was deemed to have come into force from July 19 1969
By section 3 of the Act 14 corresponding new banks which were mentioned in the First Schedule to the Act came to be established
The paid up capital of the every new bank constituted trader section 3 of the Act was until any provision was made in that behalf in any scheme made under section 9 of the Act to be equal to the paid up capital of the existing bank in relation to which it was the corresponding new bank
The existing banks were the banking companies mentioned in the Second Schedule to the Act whose banking business had been earlier taken over on July 19 1969
The entire capital of each corresponding new bank was vested in and allotted to the Central Government
Every corresponding new bank was treated as a body corporate with perpetual succession and a common seal with power subject to the provisions of the Act to acquire hold and dispose of property and to con tract and to sue and be sued in its own name
Under the Act the Bank became the corresponding new bank in respect of the Central Bank of India Ltd Among other provisions the Act provided for the appointment of officers and employees of the corresponding new bank
Section 12 of the Act reads thus 12
Removal of Chairman from office 1 Every person holding office immediately before the commencement of this Act as Chairman of an existing bank shall if he becomes Custodian of the corresponding new bank be deemed on such commencement to have vacated office as such Chairman
2 Save as otherwise provided in sub section 1 every officer or other em ployee of an existing bank shall become on the commencement of this Act an officer or other employee as the case may be of the corresponding new bank and shall hold his office or service in that bank on the same terms and conditions and with the same rights to pension gratuity and other matters as would have been admissible to him if the undertaking of the existing bank had not been transferred to and vested in the correspond 171 ing new bank and continue to do so unless and until his employment in the corresponding new bank is terminated or until his remuneration terms and conditions are duly altered by the corresponding new bank
3 For the persons who immediately before the commencement of this Act were the trustees for any pension provident gratuity or other like fund constituted for the offi cers or other employees of an existing bank there shall be substituted as trustees such persons as the Central Government may by general or special order specify
4 Notwithstanding anything con tained in the  or in any other law for the time being in force the transfer of the services of any officer or other employee from an existing bank to a corresponding new bank shall not entitle such officer or other employee to any compensation under this Act or any other law for the time being in force and no such claim shall be entertained by any court tribunal or other authority
 Sub section 2 of section 12 in particular provided for the transfer of the services of all officers and other employees of an existing bank from the existing bank to the corresponding new bank on the same terms and conditions and with the same rights to pension gratuity etc
and it stated that any officer or employee of the existing bank whose services were so transferred was to continue to be in the employment of the corresponding new bank until his employ ment in the corresponding bank was terminated or until his remuneration terms or conditions were duly altered by the corresponding new bank
Section 19 of the Act conferred power on the Board of Directors of a corresponding new bank to frame regulations after consultation with the Reserve Bank of India and with the previous sanction of the Central Government for all matters for which provision was expedient for the purpose of giving effect to the provisions of the Act
Clause d of section 192 of the Act specifically conferred powers on the Board of Directors to make regula tions with regard to the conditions or limitations subject to which the corresponding new bank might appoint advisers officers or other employees and fix their remuneration and other terms and conditions of service
After the Bank came to be established there were two classes of officers and employees working in it namely officers and employees who had become officers and employees of the Bank under sub section 2 of section 12 of the Act 172 and the officers and employees of the Bank appointed after July 19 1969
The age of retirement of the officers and employees of the various banks established in India has been the subject matter of several awards and settlements for several years
On the 20th March 1953 the Sastry Award which was passed on the industrial disputes between certain banking companies and their workmen directed thus We direct that after the workman has reached the age of 55 years he may be retired after giving him two months  notice in writing in case his efficiency is found by the employer to have been impaired subject to this rule and also subject to any rule under an existing pension fund the workman should not be com pelled to retire before he is 58 years old
 The National Industrial Tribunal Bank Disputes Award known as Desai Award on industrial disputes between certain banking companies and corporations and their workmen took the view as under A workman should not be compelled to retire before he is 58 years old
Banks however will be at liberty wherever they consider fit to make rules providing for a higher age of retirement
 The First Bipartite Settlement on industrial disputes between certain banking companies and their workmen entered into on October 19 1966 provided thus In supersession of paragraph 1513 of the Desai Award after a workman has reached the age of 57 years he may be retired after giving him two months  notice in writing in case his efficiency is found by the employer to have been impaired
 By a circular dated March 11 1969 the erstwhile Central Bank of India Ltd directed that as far as possible no member of the staff should be allowed extension in service beyond the retirement age of 60 years
The said circular which is marked as Annexure R2 
and enclosed to the counter affidavit filed by Shri AS Jain Assistant General Manager of the Bank at its Regional Office New Delhi reads thus 173 BIDSTAFF6917 11th March 1969 To All Offices in India Re Age of Retirement
It has now been decided that as far as possible no member of the staff should be allowed extension in service beyond the re tirement age of sixty
Branches are therefore advised to refrain from recommending the case of any member of the staff for extension in service beyond the retirement age
Staff members who retire at the age of sixty may however be allowed to avail of from the date of retirement ordinary leave if any due to them and treated as retired from service from the date of expiry of such leave
PC Mevawalla General Manager It is thus seen that on the eve of the nationalisation of the banking companies the members of the staff of the Central Bank of India Ltd were entitled to remain in the service of the bank till 60 years and that until the terms and conditions of service were altered under subsection 2 of section 12 of the Act every officer or employee belong ing to the Central Bank of India Ltd whose services were transferred under section 122 of the Act to the Bank was entitled to the benefit of the said rule relating to the age of retirement
He could therefore continue in service till he attained the age of sixty years in the Bank subject to any alteration that might be made by the Bank
Upon nationalisation of the 14 banks it became necessary to nationalise the terms and conditions of service of the employees of the banks particularly in view of the varying terms and conditions of service that existed in different banks prior to nationalisation which were continued by virtue of sub section 2 of section 12 of the Act
The Government of India therefore appointed on July 19 1973 a committee consisting of five members with Shri VR Pillai as the Chairman which was popularly known as the Pillai Committee to enquire into and to make recommendations with regard to standardisation of scales of pay allowances and perquisites of the transferred officers other than award staff in the 14 nationalised banks
One of the points referred to the Pillai Committee was the question relating to the age of superannuation of and the nature and quantum of terminal 174 benefits for the officer cadres
The Pillai Committee sub mitted its report in May 1974
Paragraph 818 and 822 of the Pillai Committee Report relating to the age of superan nuation read thus 818
According to existing practices the age of superannuation or retirement in eleven of the nationalised banks is 60 years with a provision that after an officer has attained the age of 57 years he can be retired after giving him two months  notice in writ ing if his efficiency is found to have been impaired
In another bank though the age of superannuation is 60 the proviso about earli er retirement applies only when the officer has attained the age of 58 years
In two other banks the age of superannuation itself is 58 years
In the circumstances we recommend that the age of superannuation of officers in the banks should be 60 years with a provision for review at the age of 58 years to adjudge the fitness of the officer for continuance in service
In order to remove uncertainties the above review may be initiated on the officer attaining the age of 57 years and completed well before he reaches 58 years
 Thereafter in September 1976 the Government of India appointed a study group called the Study Group of Bankers to make suggestions for the implementation of Pillai Commit tee Report
After examining the Report of the Pillai Commit tee and taking into consideration all other aspects the Study Group of Bankers made its recommendations on all questions including the age of superannuation of officers who had become the employees of the banks under section 122 of the Act
On receipt of the recommendations of the Study Group of Bankers the Government of India issued guide lines to the nationalised banks to frame appropriate regula tions with regard to the terms and conditions of the service of the officers working in them
Accordingly the Bank pre pared its regulations after consultation with the Reserve Bank of India and submitted them for the approval of the Government of India
The Government of India gave its ap proval to the regulations with some modifications
On re ceipt of the approval of the Central Government on 23rd May 1979 the Bank brought into force the Regulations with effect from 1st July 1979
Regulation 19 of the Regulations pro vided as under 175 19
Age of Retirement 1 The age of retirement of an officer em ployee shall be as determined by the Board in accordance with the Guidelines issued by the Government from time to time Provided that the Bank may at its discretion on review by the Special Committee as provided hereinafter in subregulation 2 retire an officer employee on or at any time after the completion of 55 years of age or on or at any time after the completion of 30 years of total service as an officer employee or otherwise whichever is earlier    In accordance with the guidelines issued by the Central Government the Board determined the Rules for Age of Re tirement as follows The age of retirement of an officer in the Bank on or after the appointed date shall be determined as under 1
An officer employee of the Bank recruitedpromoted prior to 19th July 1969 shall retire on completion of the 60 years of age
An officer employee of the Bank recruited prior to 19th July 1969 but promoted as an officer on or after 19th July
1969 shall retire on completion of 60 years of age
An officer employee of the Bank recruited whether as an Award Staff or as an officer employee on or after 19th July 1969 shall retire on completion of 58 years of age
 Rules 1 and 2 of the Rules for Age of Retirement relate to an officer employee who had been recruited or promoted as an officer prior to July 19 1969 ie prior to the date on which the banking business of the former banking compa nies was nationalised and to an employee recruited prior to nationalisation but promoted as an officer thereafter
Rule 3 of the Rules for Age of Retirement relates to an officer employee of the Bank recruited whether as an award staff or an officer employee on or after July 19 1969
The officer employees who had been recruited or promoted prior to July 19 1969 or recruited prior to July 19 1969 but promoted as officers after July 19 1969 were allowed to retire trader the Rules for Age of Retirement on completion of 60 years of age
All other officer employees recruited whether as an award staff or an officer employee on or after July 19 1969 were 176 required to retire on completion of 58 years of age
The difference between the age of retirement of officer employ ees failing under rules 1 and 2 of the Rules for Age of Retirement and the age of retirement of the officer employ ees falling under rule 3 thereof arose on account of the decision taken by the Government of India and the Bank not to alter to their prejudice the right which the employees of the Bank who had been recruited prior to July 19 1969 had acquired under the circular issued by the Central Bank of India Ltd on March 11 1969 before nationalisation of the banks
Section 122 of the Act as already stated provided that any employee of the Bank whose services were trans ferred to the corresponding new bank could hold his office in that bank on the same terms and conditions and with the same rights to pension gratuity etc
until they were duly altered by the corresponding new bank
Since there was no alteration of the condition relating to the age of superan nuation the said officers continued to enjoy the benefit of the condition of service relating to retirement which was in existence prior to nationalisation of banks
But as regards employees who were recruited after July 19 1969 the Bank fixed the age of superannuation at 58 years having regard to the prevailing age of superannuation of the members belong ing to the various services in public sector corporations Central Government and many of the State Governments
The 1st petitioner was appointed on 13th August 1972 as an officer in the post of Chief Cashier in the Bank
The letter of appointment issued in his case contained a clause which read as follows You will be governed by the terms and condi tions of service as applicable to the other officer staff of the Bank
 On the Regulations coming into force in 1979 the 1st Petitioner was served with a notice dated 252
1980 issued by the Chief Manager of the Bank stating that he would be treated as finally retired from the Bank s service after the close of business on February 29 1980 on completion of 58 years of age
The above writ petitions were filed in April 1980 questioning the order of retirement issued in the case of the 1st petitioner and praying inter alia for a declara tion as mentioned above that all officers including the 1st petitioner should be permitted to continue in service till the completion of 60 years of age as in the case of officers failing trader rules 1 and 2 of the Rules for Age of Retirement
The principal grounds urged in support of the writ petitions were that there could not be two different ages of retirement in the case of officers of the Bank and that since rule 3 of the Rules for 177 Age of Retirement required the officers who were recruited subsequent to July 19 1969 to retire on completion of 58 years of age while others falling under rules I and 2 of the said Rules could continue till 60 years of age rule 3 was liable to be struck down as being violative of Articles 14 and 16 of the Constitution
The petitions were opposed by the Bank and the Union of India
It was pleaded by them that since the employees whose services were transferred to the Bank under subsection 2 of section 12 of the Act were entitled to continue in service till 60 years of age by virtue of the conditions of service prevailing in the Cen tral Bank of India Ltd prior to nationalisation of banks the Bank and the Government found that it would be unjust and unfair to reduce the age of superannuation from 60 years in the case of such employees and therefore did not alter the said condition of service
In the absence of any altera tion they were entitled to continue to be in service till they attained 60 years of age even after nationalisation by virtue of sub section 2 of section 12 of the Act
The officers and employees other than the award staff recruited after the nationalisation of the basks were required to retire on completion of 58 years of age which was the age of superannuation generally prevailing in the services of all public sector corporations Central Government and many of the State Governments
It was urged that since the employees recruited prior to July 19 1969 belonged to a different class altogether it could not be said that there had been violation of Articles 14 and 16 of the Constitution and the difference in the ages of retirement of the two classes of officers was due to historica reasons
It is no doubt true that the order of appointment in the case of the 1st petitioner stated that he would be governed by the terms and conditions which were applicable to other officers of the Bank
That condition however did not prevent the Bank from making a regulation which was applica ble exclusively to the officers recruited after July 19 1969
In the case of officers falling under rules 1 and 2 of the Rules for Age of Retirement no extra benefit was con ferred on them
They were only permitted to carry the bene fit of the Rules for Age of Retirement which was prevailing in the former banking company which was taken over by the Government on nationalisation
We are of the view that there was good reason to make a distinction between the employees who had entered service prior to nationalisation and those who joined thereafter
At the time of nationalisation the corresponding new banks did not have their own employees to run the vast business taken over under the Act
There was therefore necessity to secure the services of the employees of the former banking companies without causing much dissat isfaction to them
There was also need for standardising the con 178 ditions of service of all such employees belonging to the 14 banks
The Government of India took the advice of the Pillai Committee and the Study Group of Bankers and after due deliberation evolved a uniform pattern of conditions for the transferred employees keeping in view the conditions of service of the employees prevailing in the majority of the banking companies which were nationalised
Insofar as the employees recruited after nationalisation were concerned the Government applied the rules generally applicable to all its employees in other spheres of Government service
We have given detailed reasons in our judgment in the Life Insurance Corporation of India  Anr
vs SS Srivastava  Others Civil Appeal Nos
1076 1077 of 1987 decided on 551987 justifying the existence of a rule fixing different ages of retirement to different classes of employees of the Life Insurance Corporation of India in the circumstances existing there
The circumstances prevailing in this case are almost the same
Those reasons are equally applicable to the present case too
In Govindarajulu vs The Management of the Union Bank of India  Others Writ Peti tion No 5486 of 1980 decided on 21111986 the High Court of Madras has rejected the contentions similar to those which are raised before us
In that case a regulation framed by the Union Bank of India which was similar to the one in this case was upheld
That decision has been approved by us in the Life Insurance Corporation of India  Anr
vs SS Srivastava  Others supra
In Dr Nikhil Bhushan Chandra vs Union of India  Ors 1983 LAB IC NOC 109 Calcutta similar regulations framed by the United Commer cial Bank which was also nationalised under the Act came up for consideration before the High Court of Calcutta
The High Court rejected the theory of discrimination put forward on the basis that fixing 60 years as age of retirement for those who were recruited prior to July 19 1969 and 58 years of age who joined after that date lacked an intelligible differentia
The Calcutta High Court pointed out that the terms and conditions of the service of the employees of the banks which were taken over under the Act had been protected by the Act and it was not possible to hold that there had been any hostile discrimination against the petitioner in that case
We are of the view that the decisions of the Madras High Court and the Calcutta High Court referred to above lay down the correct principle
It is true that if the nationalised banks wanted to reduce the age of retire ment of the transferred employees they could have done so But they have tried to standardise their conditions of service and to bring about some uniformity without giving room for much discontent or dissatisfaction
The question involved in this matter is not one of mere 179 competence
It involves justice and fairness too
Having regard to all aspects of the matter the nationalised banks have tried to be fair and just insofar as the question of the age of retirement is concerned
We cannot say in the circumstances that the Bank s attitude is unreasonable particularly when the age of retirement of the new entrants is quite consistent with the conditions prevailing in almost all the sectors of public employment
We are of the view that the classification of the em ployees into two categories ie those falling under rules 1 and 2 of the Rules for Age of Retirement and those falling under rule 3 thereof satisfies the tests of a valid classi fication laid down under Articles 14 and 16 of the Constitu tion
We do not therefore find any ground to declare rule 3 of the Rules for Age of Retirement which is impugned in this case as unconstitutional
The Writ Petitions are therefore dismissed
There shall however be no order as to costs
PSS Petitions dismissed


Summary:
Before nationalisation of banking companies the members of the staff of the Central Bank of India Ltd were entitled to remain in the service of the bank till 60 years by virtue of the circular dated March 11 1969
Section 122 of the upon nationalisation provided that any employee of the Bank whose services were transferred to the correspond ing new bank could hold his office in that bank on the same terms and conditions and with the same rights to pension gratuity etc
until they were duly altered by the corre sponding new bank
Clause d of section 192 of the Act specif ically conferred powers on the Board of Directors of the corresponding new bank to make regulations with regard to the conditions or limitations subject to which the corre sponding new bank might appoint officers or other employees and fix their remuneration and other terms and conditions of service
Regulation 19 of the Central Bank of India Officers  Service Regulations 1979 empowered the Board of Directors to determine the 166 age of retirement of officer employees of the Bank
Rule 1 of the Rules for Age of Retirement contained in Annexure I to the Regulations requires an officer employee of the Bank recruitedpromoted prior to the 19th July 1969 the date on which banking business was nationalised to retire on com pletion of the 60 years of age rule 2 requires an officer employee of the Bank recruited prior to 19th July 1969 but promoted as an officer on or after 19th July 1969 to retire on completion of 60 years of age while rule 3 requires an officer employee of the Bank recruited on or alter 19th July 1969 to retire on completion of 58 years of age
The 1st petitioner was appointed on 13th August 1972 as Chief Cashier in the Bank
The letter of appointment con tained a clause which stated that he will be governed by the terms and conditions of service as applicable to the other officer staff of the Bank
He was served with a notice dated 25th February 1980 stating that he would be treated as finally retired from the Bank s service after the close of business on February 29 1980 on completion of 58 years of age
In the writ petitions assailing the order of retirement it was contended for the petitioner that there could not be two different ages of retirement in the case of officers of the Bank and that since rule 3 of the Rules for Age of Retirement required the officers who were recruited subse quent to July 19 1969 to retire on completion of 58 years of age while others falling under rules 1 and 2 could con tinue till 60 years of age rule 3 was liable to be struck down as being violative of articles 14 and 16 of the Constitu tion
For the respondents it was contended that the employees whose services were transferred to the Bank under sub section
2 of section 12 of the Act were entitled to continue in service till 60 years of age by virtue of the conditions of service prevailing in the Central Bank of India Ltd prior to the nationalisation of bank that the officers and employees other than the award staff recruited after the nationalisa tion of the banks were required to retire on completion of 58 years of age which was the age of superannuation gener ally prevailing in the service of all Public Section Corpo rations Central Government and many of the State Govern ments and that since the employees recruited prior to July 19 1969 belonged to a different class altogether it could not be said that there had been violation or  articles 14 and 16 of the Constitution
Dismissing the writ petitions the Court 167 HELD 1
The classification of the employees into two categories ie those falling under rules 1 and 2 of the Rules for Age of Retirement and those tailing under rule 3 thereof satisfies the test of a valid classification laid down under articles 14 and 16 of the Constitution
Rule 3 of the Rules for Age or Retirement therefore cannot be de clared as unconstitutional
179BC 2
The difference between the age of retirement of officer employees tailing under rules 1 and 2 of the Rules for Age of Retirement and the age of retirement of the officer employees tailing under rule 3 thereof arose on account of the decision taken by the Government of India and the Bank not to alter to their prejudice the right which the employees of the Bank who had been recruited prior to July 19 1969 had acquired under the circular issued by the Central Bank of India Ltd on March 11 1969 before nation alisation of the banks
Since there was no alteration of the condition relating to the age of superannuations
the said officers continued to enjoy the benefit of the condition of service relating to retirement
But as regards employees who were recruited after July 19 1969 the Bank fixed the age of superannuation at 58 years having regard to the prevail ing age of superannuation of the members belonging to the various services in public sector corporations Central Government and many of the State Governments
176AD 3
At the time of nationalisation the corresponding new banks did not have their own employees to run the vast business taken over under the Act
There was necessity to secure the services of the employees of the former banking companies without causing much dissatisfaction to them
The terms and conditions of the service of the employees of the banks which were taken over under the Act had therefore been protected by the Act
Insofar as the employees recruit ed after nationalisation were concerned the Government applied the rules generally applicable to all its employees in other spheres of Government service
The Bank s attitude cannot be said to be unreasonable particularly when the age of retirement of the new entrants is quite consistent with the conditions prevailing in almost all the sectors of public employment
There cannot therefore be said to be any hostile discrimination against the petitioner
177G 178F B 179AB Life Insurance Corporation of India  Anr
vs SS Srivastava  Others Civil Appeal Nos
1076 1077 of 1987 applied
Nikhil Bhushan Chandra vs Union of India  Ors 1983 LABIC
NOC 109 Cal approved
168 4
Though the order of appointment in the case of the first petitioner stated that he would be governed by the terms and conditions which were applicable to other officers of the Bank
it did not prevent the Bank from making a regulation which was applicable exclusively to the officers recruited after July 19 1969
In the case of officers tailing under rules 1 and 2 of the Rules for Age of Retire ment no extra benefit was conferred on them
They were only permitted to carry the benefit of the rules for Age of Retirement which was prevailing in the former banking compa ny which was taken over by the Government on nationalisa tion
177EG