TaxTMI 
TaxTMI 
2004 (4) TMI 594
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....h of its staff, the appellant floated the voluntary retirement scheme (hereinafter referred to for the sake of brevity as "VRS"). The scheme was to commence with effect from 1.12.2000 and it was to remain in operation up to 31.12.2000. On 6.12.2000, respondent no.1, Ranveer Singh Bawa, opted for VRS. On 22.12.2000, respondent no.1 requested that he be allowed to withdraw his option. On 23.12.2000, the scheme stood modified. On 30.12.2000 and 17.1.2001, the said respondent wrote reminders and requested that he be permitted to withdraw his option. However, in view of clause 10.4 of the scheme, the appellant did not permit him to opt out from the VRS. Consequently, w.e.f. 29.1.2001, respondent no.1 was relieved from service. Aggrieved, he file....
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....eal came up for hearing, it was submitted on behalf of the appellant on facts that the respondent no.1 herein had received and accepted payments/benefits under the scheme and consequently, he was not entitled to withdraw therefrom. In this connection, reliance was placed on the averments in the counter-affidavit filed by the appellant on 28.2.2004 in I.A. No.1 of 2003 filed in the present civil appeal. It was urged that the said respondent had two savings bank accounts no.4775 and 4777, in which the bank credited salaries, notice period salary as well as leave encashment benefits under the scheme, which was never objected to by the respondent. Further, the credits in the savings bank accounts were used by the respondent to repay his car loa....
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.... it was receipt of payment under protest. In this connection, reliance was placed on the fact of pendency of the writ petition in the High Court. In the case of Bank of India v. O.P. Swarnakar (supra), this Court observed that estoppel is based upon the acceptance and retention of benefits, by one having knowledge or notice of the benefits from a contract or a transaction. The doctrine of estoppel is a branch of the rule against assumption of inconsistent positions. One who knowingly accepts the benefit of a contract is estopped from denying the binding effect on him of such contract. This rule has to be applied to do equity. It was accordingly held that those optees who knowingly received the payments and utilized them were not entitled t....
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.... to Savings Bank Account No.4775 maintained by the respondent. A perusal of the same would show that on 27.12.2000 salary to the tune of Rs. 15,154.00 was credited to his account. Subsequently, on 25.1.2001 another credit entry amounting to Rs. 14,600.42p was made on account of salary. On 29.1.2001, a credit entry amounting to Rs. 23,548.59 on account of notice period salary as applicable under Voluntary Retirement Scheme was made. 4. That thereafter on 1.2.2001 the respondent himself transferred a sum of Rs. 60,000/- in the said account and on that very day he adjusted his car loan amount to Rs. 65,220.00 payable to the bank. It is stated that under Voluntary Retirement Scheme every employee who took the voluntary retirement scheme and t....