STATE BANK OF INDIA Vs. V.K.BAKSHI

JUDGEMENT

(1.) The question for consideration of this intra-court appeal is: Whether the Labour Court could reduce the penalty from 'removal from service' to 'stoppage of three increments with cumulative effect', in exercise of its discretionary jurisdiction under Sec. 11 A of the Industrial Disputes Act, 1947?

(2.) The admitted facts are: (i) the respondent was posted as Senior Assistant in the appellant/bank; (ii) while working with the appellant/bank, he had taken certain loans from different financial institutions/Thrift and Credit Societies without the approval of the competent authority and had also availed the facility of credit card from M/s. SBI Cards and Payment Services Pvt. Ltd., the outstanding against which, he failed to repay; and (iii) even the cheques issued by him towards the repayment of some of the credit facilities were returned unpaid by the drawee bank, with the objection "insufficient funds".

(3.) A chargesheet was issued against the respondent on 27/3/2006 by the appellant alleging major misconduct, enumerating the following charges:-