1. ' The petitioner was a Government employee of Bankers Equity Limited (BEL) in Officer Grade-III subsequently as per approval of the Board of Directors of the respondent No, 2 her services were absorbed in next higher grade i,e, Officer Grade-II in the permanent employment availed all benefits under the Service Regulations pursuant to the absorption at the request of respondent No, 2 petitioner's services were transferred to respondent No,2. National Development Finance Corporation, General Provident Fund, contribution to pension upon adjustment of the loan, advances were paid to respondent No, 2 through cheque dated 4th March, 1998 and the process of the absorption between two institutions was finalized. It was categorically ensured that the services of petitioner over 9 years would be counted by the respondent No,2. The petitioner in the year 1992 upon the voluntary offer of golden shake hand by the respondent No,2, the same was submitted to the respondent No,1 for approval by the Director of respondent No,2 after certain changes deletions relating to pension, benevolent fund, post-retirement and medical facilities, approved by the National Bank of Pakistan were admissible to the respondent No,2 employees. In August, 2001 respondent No,1 imposed moratorium on the respondent No,2 and advised to finalize the Severance Scheme for the employees at his earliest. The respondent was amalgamated/merged with National Bank of Pakistan on November 1, 2001 all the assets and liabilities of the respondent No, 2 were immediately taken over by respondent No,3 and had undertaken to verify all allocation in respect of existing liabilities. The petitioner has called in question all the benefits under the scheme i,e, pension, benevolent fund and medical facilities on several grounds.
2. ' Before proceeding with the merits of the case a primary objection was raised by the learned counsel for respondent No,3 about the maintainability of the petition. It is urged that the employees of respondent No,2 were entitled to benefit under the scheme of amalgamation of National Development Finance Corporation with National Bank of Pakistan dated 29th October, 2001 in terms of section 47(8) of Banking Companies Ordinance 1962, per Annexure "I" provides details of excluded assets and excluded liabilities including the outstanding claims of the Federal Government and the State Bank of Pakistan which includes staff loan and advances deposits of the employees fund investment and other liabilities to be adjusted Severance Scheme whereby rights and privileges availed under the service rules of respondent No,2 were curtailed gradually which could be considered for the orders for the purpose of section 4 of the Service Tribunals Act, in view of the expanded definition of expression "order" in I.A. Sherwani's case 1991 SCM R 1041. Per clause 1.02 of the amalgamation scheme, per clause 1.11 and 1.12 term excluded assets excluded liabilities have been defined reproduced as under:--- "1.02 "Assets" mean assets, properties and rights of every description whether present or future, actual or contingent, and includes properties held on trust and Securities, benefits and powers of every description other than the Excluded Assets. Without in any way limiting or prejudicing the generality of the foregoing, Assets shall include: (a) all rights, powers, authorities, privileges, decretal amounts and all movable properties. Immovable properties, cash balance, reserve funds, investments, and all other rights and interest in and arising out of such property in the ownership, possession, power or control of the Corporation whether within or out of Pakistan, and all books of accounts, registers, records and all other documents of whatever nature relating thereto; and (b) the contingent claims and proceeds realized from the liquidation of the contingent claims."
3. 1.11 "Excluded Assets" means the assets as described in the Annexure "I" attached to this Scheme.
4. 1.12 "Excluded Liabilities" means the liabilities as described in the Annexure "I" attached to this scheme.
5. ' Clause 2.03 pertains to the transfer of liabilities reads as under:--- "Transfer of Liabilities.--- At the effective date, all the liabilities of the Corporation shall immediately and without any further act or deed to be assumed by and become the liabilities of the transferee Bank, which shall pay, undertake, satisfy, discharge and perform, when due, all of the obligations of the Corporation in respect of the Existing Liabilities of the Corporation provided where the Transferee Bank, and/or the Corporation may not have been incurred/undertaken bona fide and/or in accordance with the law, such liability will vest in the transferee Bank only after the claimant in respect of such liability has proved in a competent Court of law that such liability was incurred and undertaken bona fide and strictly in accordance with the law."
6. ' While clause 2.08 pertains to the contract subject to the provision contained in section 2.08 were reproduced hereinbelow:--- "Contracts.--- Subject to the proviso contained in section 2.03 above, every contract to which the Corporation is a party shall have effect on and from the effective date as if:
(a) The Transferee Bank had been a party thereto instead of the Corporation.
(b) For any reference (however worded and whether express or implied) to the Corporation there were substituted, as respects anything failing to be done on or after the Effective Date, a reference to the transferee Bank;
(c) Any reference (however worded and whether express or implied) to the directors or to any director, officer or employee of the Corporation were, as respects anything failing to be done on or after the Effective Date, a reference to the directors of the Transferee Bank or, as the case may require, to such director, officer or employee of the transferee Bank as it may appoint for that purpose or, in default of appointment, to the directors, officer or employee of the Transferee Bank who corresponds as nearly as may be to the first mentioned director, officer or employee."
7. ' However, in view of the position emerging within the amalgamation scheme and after observation of the respondent No,3, the claim of the petitioner herein cannot be allowed, it would be open to the petitioner to approach the respondent No,1 to consider granting similar benefits in the interest of equity and fairness which was granted to the other employees in similar circumstances. Petition stands disposed of accordingly.