Hon'ble Judges M.S. Joshi, J. For Appellant : B.R. Maheshwari, Suresh Sethi, K.N. Kataria and B.R. Bhatia, Advs JUDGMENT M.S. Joshi, J. (1) This suit was instituted on 14-12-1973 by Madhav Trading Company, a partnership firm carrying on business at Calcutta, against the Union of India, (defendant No. 1), Salzgitter Stahl Gmbh, a West German Company (defendant No. 2) and Madhav Trading Company, a partnership firm carrying on business of Rs. 1,06,999.86. It was alleged by the plain... ... ...

APPENDIX FORM A DECLARATION OF FIDELITY AND SECRECY I .................................................... do hereby declare that I will faithfully, truly and to the best of my skill and ability execute and perform the duties required of me as an employee of the INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY and which properly relate to the office or position held by me in or in relation to the said Authority. I further declare that I will not communicate or allow to be communica... ... ...

(Refer reg.3(1)(b) and (j)) PART-I Appointing Authorities (refer reg.3(1)(b)) Sl. No. Categories of Employees Appointing Authority 4. Executive Director Authority 5. Officers Chairperson 6. Multi-Tasking Staff Executive Director PART-II Disciplinary Authorities (refer reg.3(1)(j)) Sl. No. Categories of Employees Disciplinary Authority in case of imposing minor penalties Disciplinary Authority in case of imposing major penaltie... ... ...

Name of the Post Mode of Recruitment & proportion of posts to be filled up through different modes Age, Qualification & Experience for Direct recruits [/Contract Recruits, wherever applicable] Qualification & Experience for Deputation Composition of the selection Committee [/Search-cum- Selection Committee] Executive Director (a) Promotion (b) Deputation from Government, RBI, SEBI, IRDAI, PFRDA, Banks, Financial institutions and Academic Institutions; (c) On contract ... ... ...

117. If any doubt arises as to the interpretation of any of the provisions of these regulations, the matter shall be referred to the Chairperson or such other authority as may be specified by the Chairperson, and her decision in the said matter shall be final. =============... ... ...

116. (1) On and from the date of commencement of these regulations- (a) The terms and conditions of the service of the existing whole-time employees of the Authority shall stand modified in accordance with the provisions of these regulations; (b) The International Financial Services Centres Authority (Employees' Service) Regulations, 2020, stand repealed. (2) Notwithstanding the repeal of the International Financial Services Centres Authority (Employees' Service)... ... ...

115. Unless specified by these regulations, every whole-time employee of the Authority shall subscribe to declaration in FORMS A to C as provided in the APPENDIX of these regulations. =============... ... ...

114. It is mandatory for an employee covered under these regulations to subscribe to any insurance scheme or fund that may be instituted by the Authority for the benefit of its employees and their families and to be bound by the rules of the said scheme or fund; Provided that nothing contained in this Regulation shall serve to curtail any superannuation benefits which may otherwise be admissible to an employee; Provided further that nothing contained in this Regulation shall require an... ... ...

113. Unless otherwise specified in these regulations, every whole-time employee joining the services of the Authority, shall become a member of the IFSCA New Pension Scheme from the date of joining and shall be bound by the provisions of the Scheme. =============... ... ...

112. (1) An employee shall be eligible for gratuity on: - (a) Retirement; (b) Death; (c) Disablement rendering her unfit for further service as per Medical Certificate; (d) Resignation after completing five years of continuous service; or (e) Termination of service in any other way (except by way of punishment) after completion of five years of service. (2) The amount of gratuity payable shall be determined by the Authority from time to time. ... ... ...

111. An employee of the Authority may be sent on deputation or on external assignment to serve under any other employer; Provided that such deputation or external assignment shall be in accordance with such terms and conditions as may be specified by the Competent Authority from time to time. Provided further that an employee shall not be sent on deputation or on external assignment against her will. Provided also that an employee shall not be permitted to go on deputation during th... ... ...

Regulation 110 permits the Authority to allow its employees to be deputed to military service. Such permission is discretionary and subject to terms and conditions determined by the Authority for each employee and the relevant military-service deputation.

Travelling and halting allowances for employees are payable at rates and on terms and conditions approved by the Competent Authority from time to time. Applicable payment rates and conditions may therefore be determined and revised periodically through the approval-based framework.

CHAPTER VII MISCELLANEOUS 108. (1) Medical aid and facilities shall be provided by the Authority to its employees and such of their dependents, for their illness, injuries arising out of accidents, hospitalization and domicile treatment in accordance with guidelines issued by the Authority from time to time. (2) Without prejudice to sub-regulation (1), the Authority may take a comprehensive health insurance policy covering all its employees and their dependents, on such terms and co... ... ...

Vigilance-case procedures apply to alleged corrupt practices, including disproportionate assets, criminal misconduct, improper purpose, and corrupt exercise or non-exercise of powers. Investigation may be entrusted to an approved external agency with the Chairperson's approval. Where a prima facie case emerges, advice may be sought on disciplinary proceedings, and the inquiry may be conducted by a specially nominated officer. The Inquiry Officer's report is considered with advice on the charges and appropriate penalty, after which the Competent Authority determines the penalty.

106. Save as otherwise expressly provided in these regulations, the authority competent under these regulations to make any order may, for good and sufficient reasons or if sufficient cause is shown, extend the time specified in these regulations for anything required to be done under these regulations or condone any delay. =============... ... ...

105. Every order, notice and other process made or issued under these regulations shall be served in person on the employee concerned or communicated to her by registered post. =============... ... ...

104. The Authority or Chairperson, as the case may be, may, at any time, either on her own motion or otherwise review any order passed under these regulations, when any new material or evidence which could not be produced or was not available at the time of passing the order under review and which has the effect of changing the nature of the case, has come, or has been brought, to her notice: Provided that no order imposing or enhancing any penalty shall be made by the Authority or the Ch... ... ...

103. (1) Notwithstanding anything contained in these regulations- (a) the Authority, or (b) the appellate authority, within six months of the date of the order proposed to be revised or (c) any other authority specified in this behalf by the Authority by a general or special order, and within such time as may be prescribed in such general or special order; may at any time, either on her or its own motion or otherwise call for the records of any inquiry and revis... ... ...

102. The authority which made the order appealed against shall give effect to the orders passed by the appellate authority. =============... ... ...