Fri. Jan 22nd, 2021

Arun Oswal vs M/S. Oriental Insurance Company … on 17 November, 2015

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1. The present petition has been filed by the petitioner seeking the

following reliefs:
2. The facts as noted from the petition, are, the petitioner joined the

services of the respondent on October 3, 1983 as Development Officer.

In the year 1995, the respondent introduced the pension scheme known

as General Insurance (Employees) Pension Scheme, 1995. The

petitioner gave his option for being covered under the scheme and as
W.P.(C) No. 6408/2014 Page 1 of 16
such, was a pension optee. It is the case of the petitioner that in the year

2003, when he had put in 19 years and 6 months, the Ministry of

Finance, Govt. of India issued a gazette notification on January 2, 2003

in exercise of powers conferred under Section 17A of the General

Insurance Business (Nationalization) Act, framing a scheme by

amending the General Insurance (Rationalization of Pay Scales and

Other Conditions of Service of Development Staff) Scheme, 1976. In

terms of the said notification, more specifically, para 15C, a special

Voluntary Retirement package („SVRS, 2003‟ in short) was introduced

and the conditions thereof were laid down in Annexure I (Page 23 of the

paper book). In terms of the said package, a Development Officer shall

be eligible to opt for the special voluntary retirement package except

who is under suspension, against whom disciplinary proceedings are

pending or contemplated. Be that as it may, in terms of clauses 2 and 3

of the said package, the other benefits were as under:

Source: Indian Kanoon

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