CANARA BANK Vs. SWAPAN KUMAR PANI

JUDGEMENT

(1.) These are two cross appeals between the parties. Canara Bank is appellant in Civil Appeal No. 1641 of 2004 and respondent in Civil Appeal No. 1642 of 2004. Shri Swapan Kumar Pani (hereinafter referred to as "the first respondent") is appellant in Civil Appeal No. 1642 of 2004 and first respondent in Civil Appeal No. 1641 of 2004.

(2.) The first respondent at all material time was working as Accountant, in Jajpur Road, Orissa Branch of Canara Bank, Calcutta (hereinafter referred to as the Bank). It is stated that in the said capacity he used to hold one set of keys of the locker of the bank. Another set of keys used to be in the custody of the Manager of the Bank. Admittedly on the ground that he had committed a misconduct; a departmental proceeding was proposed to be held in terms of Regulation 6 of the Canara Bank Officer Employees (Discipline and Appeal) Regulations, 1976 (Regulations) wherefor the following Articles of Charge were served on the first respondent:

(3.) The gist of the charge contained in the said article of charge, thus, was that the first respondent had unauthorisedly and with ulterior motive removed the special bearer bonds worth Rs. 2 lacs from the banks safe custody on 6-11-1985 on which date he was holding the second set of keys of the double lock having obtained the keys from the Managers drawers and while removing the said bonds kept blank sheets of B-2 register therein. The said bearer bonds had been taken as collateral security from M/s. Utkal Iron and Steel Industries towards sanctioning of M.L. Limit of Rs. 10 lacs.