SUTRAM SURESH Vs. SENIOR DIVISIONAL MANAGER

JUDGEMENT

(1.) The petitioner is before this Court calling in question termination of the petitioner as an agent of Life Insurance Corporation of India by order passed by the Disciplinary Authority dtd. 14/5/2019 and has further called in question order passed during the pendency of the subject petition by the Appellate Authority dtd. 2/5/2020 which confirms the order of the Disciplinary Authority.

(2.) Brief facts that lead the petitioner to this Court in the subject petition, as borne out from the pleadings are, as follows:- The petitioner enrolls himself to be an agent of the 1st respondent/Life Insurance Corporation of India (hereinafter referred to as 'the Corporation' for short) at its City Branch in the month of March 1999. It is the claim of the petitioner that he has received several encomiums during his tenure of being an agent and had been recognized with the grant of Corporation Club Membership which is the Corporation's highest recognition to an agent and a million dollar roundtable life membership, both of which, according to the petitioner, are conferred upon only to agents who have served their best to the Corporation.

(3.) Things standing thus, a crime comes to be registered in Crime No.73 of 2018 against one M/s Vikram Investments for offences punishable under Ss. 403, 406, 420 r/w 34 of the IPC . The allegation was with regard to a transaction of one A.R.Balaji and his Agarbathi Company who had invested and lost to an extent of Rs.11.74 crores through accused No.2 Narasimha Murthy. The petitioner claims that he also had invested in M/s Vikram Investments and had nothing to do with the loss.