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VRS: It is not open for the Employees to withdraw the Application after the stipulated last date

The Supreme Court in Madhya Pradesh State Road Transportation Corporation vs. Manoj Kumar & Anr. held that Voluntary Retirement Schemes (VRS) are contractual in nature and the option to opt for them constituted as an ‘invitation to offer’ and not an ‘offer’ themselves. The Bench of Justices AK Sikri and RK Agrawal also held that it is not open to the applicants to withdraw their applications after the stipulated last date

Article referred: http://www.livelaw.in/vrs-not-open-employees-withdraw-application-stipulated-last-date-sc-read-judgment/

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