SRI M G PANDIT Vs. INDIAN BANK

JUDGEMENT

(1.) This is an appeal against the judgment and order dated July 25, 2013, passed by the Hon'ble Single Judge in Writ Petition No.17400 of 2009.

(2.) The writ petitioner appellant was posted as the Manager of Benson Town Branch of the Indian Bank between June 25, 1990 to April 9, 1991. During his tenure, he committed serious irregularities in the accounts of Nayan Steels Private Limited and Rajgir Steels Private Limited. He, also, issued third party cheques to the tune of Rs. 2,16,00,000/- (Rupees two crore sixteen lakh) only, for the credit of the said two companies. From 1990 onwards, those cheque purchases were far in excess of his powers. Thus, he violated the norms of lending in total disregard to his responsibilities and interest of the Bank. Moreover, his reckless attitude caused loss to the Bank inasmuch as the amount outstanding under BP Returned Unpaid was not recovered to the tune of Rs. 50,40,000/- (Rupees fifty lakh forty thousand) only, and the so-called Directors of the said two companies could not be traced to recover the dues.

(3.) The writ petitioner was chargesheeted and the date of enquiry was fixed. He reported sick and did not attend the enquiry. Enough and sufficient opportunity was provided to him for attending the enquiry. Nevertheless, he failed to attend the same.