In Brief
This appeal challenged a High Court order directing Oriental Bank of Commerce to accept a pension scheme option exercised by retired officer Janak Raj Sharma after the bank-imposed cut-off date. The Supreme Court approved the High Court's decision, holding that while banks may set cut-off dates for pension options, such deadlines can be relaxed in exceptional circumstances where the officer has provided long service. The Court thus upheld the bank's obligation to pay Sharma's pension under the applicable scheme despite his delayed exercise of the option.
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