VANDANA SHARMA Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) THIS is an appeal arising out of the order of the Learned Additional District Judge, Delhi dated 20th January, 2005 wherein the learned Additional District Judge has decreed the suit of the plaintiff in the sum of Rs. 14,31,943/ - with pendente lite and future interest @ 20.75% per annum with quarterly rests from the date of filing of the suit till realisation of the amount.

(2.) THE brief facts of the case of the plaintiff are that the plaintiff is a nationalised bank. The defendant was working as a Manager with the plaintiff bank in its branch office at N -43, South Extension Part -I, New Delhi w.e.f. 15.04.1994 to 06.05.1995. The defendant was also in charge in respect of remittances including draft, cash orders, TPO's, etc. On 20.08.1995, it came to the knowledge of the plaintiff bank that 13 entries of cash orders were made by the defendant under her own signatures only and cash orders were issued by defendant herself. Although, under the bank rules and regulations, cash orders beyond a sum of Rs. 10,000/ - were to be signed by two authorised officers but the cash orders in question were signed by the defendant alone. All these 13 cash orders have been paid by the plaintiff bank on various dates on presentation through clearing by other banks. Out of these 13 cash orders, 10 cash orders were passed for payment by the defendant herself while the remaining three cash orders were cleared by the other officers. At the relevant time, the defendant removed and destroyed the corresponding debit and credit vouchers of the aforesaid cash orders as she was the custodian of the records in the branch office of the plaintiff at that time. The defendant herself used to make vouchers in different accounts for issuance of the cash orders and directed the dealing clerk for preparation of the cash orders after passing the vouchers herself. It has been found from the concerned parties that they got the aforesaid cash orders on payment of cash personally from the defendant whereas all those amounts which were paid in cash were not accounted for in the books of accounts of the plaintiff bank. Over and above the aforesaid cash orders, the defendant has also made certain unauthorised entries in the books of the plaintiff bank for which the defendant had no debit authority. The defendant has taken away a sum of Rs. 6,08,000/ - in an illegal and unauthorised manner from the accounts of the plaintiff bank and thereby the defendant has caused wrongful gain to herself and wrongful loss to the plaintiff bank. The plaintiff bank is entitled to recover the aforesaid amount from the defendant. The plaintiff has also claimed interest @ 20.75% per annum with quarterly rests against the aforesaid amount from the defendant. Interest @ 20.75% per annum with quarterly rests is recoverable from the defendant from the date of each cash order in question up to 03.08.1998 which comes to Rs. 8,23,943/ -. The plaintiff had claimed a total sum of Rs. 14,31,943/ - from the defendant. The plaintiff bank also served a legal notice dated 09.07.1998 upon the defendant through his counsel but despite the said notice, the defendant has failed to make the payment of the aforesaid amount to the plaintiff bank.

(3.) ON the pleadings of the parties, the following issues were framed by the learned trial court: