Punjab National Bank vs P.K. Mittal on 13 February, 1989
(xiv) Counsel for the respondents is also relying upon the decision
rendered by Hon'ble Supreme Court in the case of Punjab National
Bank Vs. P.K. Mittal reported in 1989 Supp (2) SCC 175.
This judgment is also not helpful to the respondents because
looking to the facts of the case, it appears that there was absence of
any provision of acceptance of the resignation and therefore, it was
made effective immediately and automatically from the date on
which the resignation was tendered whereas, looking to the peculiar
facts of the case the resignation was made effective upon completion
of the notice period whereas here, there is Rule 15.3 which envisages
acceptance of the resignation which also refers the right to the
Management not to accept the resignation; which also refers the
right of Management to get 'NO DEMAND CERTIFICATE. Thus, the
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rules of acceptance of the resignation, which were referred in the
aforesaid decisions are different from the facts of the present case
and therefore, the said judgment is not applicable for resolving the
disputes between the parties in the facts of the present case.