Supreme Court · 2002 INSC 547 · Decided 17 December 2002
Bank of India and ORS. v. O.P. Swaranakar ETC.
- Court
- Supreme Court of India
- Citation
- 2002 INSC 547 · [2002] SUPP. 5 S.C.R. 438
- Case number
- CIVIL APPEAL No. 854/2002
- Decided
- 17 December 2002
- Bench
- G.B. PATTANAIK, H.K. SEMA, S.B. SINHA (3-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Constitution; Contract Act Section 2
Headnote
Service Law: State Bank of India Act, 1955-Banking Companies (Acquisition and C Transfer of Undertaking) Act, 1970-Contract Act, 1872-Sections 2{a), (b), (g), (h) and 5-Voluntary Retirement Scheme.floated by Nationalised Bauks and State Bank of India-Whether application for VRS irrevocable and having regard to its provisions is an invitation to treat and D not an offer which on acceptance by employee would fructifY into a concluded contract-Application for voluntary retirement by employees would constitute an 'offer' thus it could be withdrawn before it is accepted -However, employee
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