RAJASUBRAMANIYAM P Vs. INDIAN OVERSEAS BANK

JUDGEMENT

(1.) The writ-petitioner, who is the appellant has challenged the order of the termination, dated December 8, 1986, passed by the disciplinary authority, the third respondent herein and confirmed by the second respondent-appellate authority.

(2.) The writ-petitioner, who is an officer of the Indian Overseas Bank, was functioning as Branch Manager of Narikudi Branch, when his services were terminated by the impugned order herein. The misconduct in respect of which, chargesheet was issued to the writ-petitioner pertained to irregular granting of loans to a number of persons, failure to observe precaution before sanctioning the loans and obtaining illegal monetary advantage.

(3.) Enquiry was conducted by the enquiry authority into the various charges. The petitioner has stated that these loans were granted under the integrated rural development programme to women who were engaged in the palm leaf product manufacture and that the borrowers only wanted the financial subsidy amount and the loan amounts were retained by him to be adjusted at a later date, which he actually did. He also stated that he had conducted presanction inspection before granting loans, that the S.B. account of the borrowers were regularly debited and given credit to. He had released the amounts to the borrowers because he was satisfied that they would repay the loan amount promptly. Several witnesses were examined including the borrowers, who denied the petitioner's statement that they did not want the loan amount, on the contrary, they stated that though they had signed the loan documents, the amounts were not disbursed. M.W 13, the Inspector of Police, C.B.I., had stated in his enquiry that he had signed the FIR against the petitioner and obtained the statement, wherein the petitioner had admitted the charges.