uco bank - Business Outrank

UCO Bank suffered a defeat when the Supreme Court denied pension payments to an employee who worked more than ten years before his dismissal for misconduct. The Supreme Court bench of Justices Abhay S. Oka and Ujjal Bhuyan supported the Punjab & Haryana High Court decision which required UCO Bank to provide pensionary benefits to the employee. The employee received removal in 1999 because of misconduct allegations but the appellate authority granted terminal benefits in 2000 which became the final decision. The Labour Court subsequently lowered the penalty but the High Court maintained the removal status while preserving eligibility. The employee chose pension benefits through a Bipartite Settlement in 2010. UCO Bank claimed that Pension Regulations of Regulation 22 prohibits pension payments to employees who have been removed from their positions. The Court made a ruling that the Bipartite Settlement took precedence because it received its authority from the Industrial Disputes Act. The Court relied on Bank of Baroda v. S.K. Kool precedent to establish that employees who serve more than ten years qualify for pension benefits even when they get dismissed. The Court determined UCO Bank had no valid reason to withhold pension payments because statutory settlements take precedence over bank regulations.

What's Hot

Senate Approves Massive GOP Tax Breaks and Spending Cuts Plan

HDFC, Yes Bank and Others Cut FD Rates Ahead of RBI Meeting

TikTok Ban Delayed Again as Trump Extends Sale Deadline

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: uco bank

UCO Bank Loses Pension Case in Supreme Court Over Dismissed Employee

Senate Approves Massive GOP Tax Breaks and Spending Cuts Plan

HDFC, Yes Bank and Others Cut FD Rates Ahead of RBI Meeting

TikTok Ban Delayed Again as Trump Extends Sale Deadline

UCO Bank Loses Pension Case in Supreme Court Over Dismissed Employee

Our Picks

Senate Approves Massive GOP Tax Breaks and Spending Cuts Plan

HDFC, Yes Bank and Others Cut FD Rates Ahead of RBI Meeting

TikTok Ban Delayed Again as Trump Extends Sale Deadline

Most Popular

Senate Approves Massive GOP Tax Breaks and Spending Cuts Plan

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: uco bank