S P ARORA Vs. SYNDICATE BANK

JUDGEMENT

(1.) The petitioner by this writ petition seeks quashing of the order dated 15th May, 1999 of the Disciplinary Authority of the respondent Bank imposing the penalty of compulsory retirement on the petitioner and the order dated 19th August, 1999 of the Appellate Authority dismissing the appeal thereagainst. The petitioner also seeks quashing of the order dated 1st June, 1998 initiating the departmental inquiry against him as well as of the report dated 21st January, 1999 of the Inquiring Authority.

(2.) The petitioner was charged with, while functioning as Sub Manager in the Asaf Ali Road Branch of the respondent Bank during the period 20th June, 1991 and 11th May, 1994, failing to ensure that the Savings Bank balances are extracted periodically and tallied up to date and failing to ensure that while transferring the accounts from manual system to Automatic Ledger Processing Machine (ALPM), the correct balance was carried over in respect of all Savings Bank Accounts fed to ALPM. It was the charge of the respondent Bank that as a result of the said negligence of the petitioner Rs.5,46,455/- was carried over instead of actual balance of Rs.5,464.55p in SB Account No.26109 of one Shri Vipin Kumar Khandelwal, resulting in excess credit of Rs.5,40,990.45p in the said account and which amount the account holder withdrew, causing financial loss to the respondent Bank.

(3.) It is not in dispute that the loss aforesaid of Rs.5,40,990.45p was caused to the respondent Bank. The petitioner also admitted the same in his cross examination before the Inquiring Authority. The senior counsel for the petitioner at the time of hearing also informed that a sum of Rs.2.5 lacs had already been recovered by the respondent Bank by filing a case against the said party.