Supreme Court of India
Vijaya Bank & Anr. v. Prashant B Narnaware
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We find no reason to interfere with the order of the High Court.
Judgment, page 13
From the headnote
Issue for Consideration Matter pertains to whether clause 11(k) of the appointment letter that employee to work for minimum three years and in default to pay Rs 2 lakhs as liquidated damages on leaving employment amounts to restraint of trade u/s.27 of the Contract Act and/or opposed to public policy; and the correctness of order passed by the High Court quashing clause 11(k) of the appointment letter and thus, directing the bank to refund the said sum to the respondent-employee. Headnotes† Contract Act, 1872 – s.27 – Agreement in restraint of trade void – Restrictive covenant in the clause
Authorities it was built on
- 1986 Central Inland Water Transport Corporation Ltd. & Anr. Etc. v. Brojo Nath Ganguly & Anr.
- 2002 Haryana Financial Corporation and Anr. v. M/s. Jagdamba Oil Mills and Anr.
- 1967 Niranjan Shankar Golikari v. Tiie Century Spinning and Mfg. Co. Ltd.
- 1980 Superintendence Company of India (p) Ltd. v. Krishan Murgai
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