Topic
The Delhi High Court ruled that a bank may not seize an employee’s terminal benefits to settle loan dues unless a specific statute or contract expressly permits it, quashing SBI’s review petition. The decision safeguards retirement benefits of bank employees and clarifies limits on contractual lien in employment contracts.
The Supreme Court ruled that a voluntary retirement notice under Pension Regulations becomes effective by default if the employer does not explicitly refuse it within the prescribed period, even if disciplinary proceedings are pending. This judgment clarifies the legal consequences of employer inaction and reinforces the binding nature of timely refusal, impacting service and pension entitlements for employees in regulated sectors like banking.
The Supreme Court ruled that Defence Security Corps (DSC) personnel are entitled to condonation of up to one year's shortfall in qualifying service for a second pension, ensuring parity with other armed forces under the Pension Regulations. This decision reinforces judicial consistency and mandates the Union of India to comply with the statutory entitlement, impacting thousands of DSC retirees.