Document Fragment View

Matching Fragments

"19. Now so far as the contention of the petitioner Association that change in the promotion policy communicated vide circular dated 16.03.2009 is illegal as there is no prior sanction of the RBI / Government of India as required under Section 35 of the Act is not obtained has also no substance. It is to be noted that when Central Government sanctioned scheme and issued order dated 13.08.2008 what was sanctioned was draft scheme approved by the Board of SBI and SBS in consultation with the petitioner Association and other dated 01.02.2008. In the order dated 13.08.2008 itself it has been specifically provided that terms and conditions to be approved by the Board of transferee bank. Not only that but even in the communication communicated vide circular dated 23.08.2008 in clause V it has been specifically provided that Central Board of SBI and Executive Committee of Central Board shall have power to modify terms and conditions contained in C/LPA/527/2010 JUDGMENT annxure to the circular dated 23.08.2008. Not only in the optional letter send along with circular dated 23.08.2008 and as per terms and conditions along with circular / optional letter it has been specifically provided that in respect of promotion / inter se seniority decision will be taken by the Board / ECCB. Therefore, at the time when scheme was approved by the Central Government/ RBI there were no such terms and conditions which are subsequently changed / modified. Therefore, contention on behalf of the petitioner that while issuing circular dated 16.03.2009 and providing for reduction in seniority of employees of the transferor bank for promotion prior approval / sanction of RBI / Central Government is required, cannot be accepted. There is no substance in the said submission at all.