METRO COOPERATIVE BANK LIMITED Vs. MEGHNA M TANDEL

JUDGEMENT

(1.) BY way of this petition, the petitioner has challenged the order dated 12.3.2009 passed by the Gujarat State Cooperative Tribunal in Revision Application No. 45 of 2009 and consequently restoring the order dated 23.7.2008 passed by the Board of Nominees in Summary Lavad Suit No. 144 of 2004. By the said order, the Tribunal has remanded the matter.

(2.) THE brief facts of the case are that, the respondent No. 3 was in service of the petitioner Bank as its Manager. Respondent No. 1 is his daughter and respondent No. 2 is his son. Respondent No. 4 is a partnership firm of respondent Nos. 1 and 2. It is alleged that the respondent No. 3 while serving as Manager of the Bank, got opened Loan Account No. COD 005 in his name on 24.11.1999. It is further alleged that the respondent No. 3 while serving as Manager, opened Loan Account No. ODP 001 for Rs. 5 lakhs in the name of respondent No. 4 partnership firm, namely, Harisiddhi Enterprise, for which the respondent NO. 3 stood as guarantor and mortgaged his property. In short, it is the case that the respondent No. 3 has, misusing his power, sanctioned loan amounts in favour of his relatives and thereby misappropriated the funds of the Bank.

(3.) HAVING heard learned Counsel for the parties and after going through the order of the Tribunal, in my view, the contentions which are raised by the petitioner were not considered by the Tribunal properly which were required to be viewed seriously. However, In my opinion, the interest of justice will be met by passing the following order: