Regulation 4(1) introduced the following new grades and scales of pay for the officers in the Bank: "4(1) There shall be the following tour grades for officers with the scales of pay specified against each of the grades: (A) Top Executive Scale VII Rs.3000 125 3500 Grade Scale VI Rs.2750 125 3250 (B) Senior Management Scale V Rs.2500 100 2700 Grade Scale IV Rs.2000 100 2400 (C) Middle Management Scale III Rs.1800 75 Grade 2250 Scale II Rs. 1200 70 1550 75 2000 PG NO 483 (D) Junior Management Scale I RS.700 40 900 Grade 50 1 100 EB 1200 60 1800 The petitioners were "existing officers" as on the appointed date i.e. on 1.10.1979 in Grade A. Existing Officers in Grade A were placed in the corresponding new grades and scales of pay.