G.S.SUBBARAMAN Vs. INDIAN BANK

JUDGEMENT

(1.) The instant writ petition is filed challenging the order dated 04.08.2012, passed by the Executive Director/Appellate Authority, Indian Bank, Corporate Office, Chennai, who affirms the order dated 19.09.1994 bearing No.2529:99:VC passed by the General Manager / Disciplinary Authority, Indian Bank, Corporate Office, Vigilance Department, Chennai.

(2.) The petitioner while working as a Chief Manager in Mylapore branch at respondent bank, was served with a charge memo stating that on 20.12.1991, the petitioner unauthorizedly purchased the foreign cheque bearing No.79584032 account with Union Bank, Switzerland, Zurich for SN Fr.1 Lakh issued by one Ms.Mallika Saravanamuthu payable to one NIFE.AB. The instrument was endorsed by the payee to one G.Ramachandran, Managing Director of M/s.Nurit Inks Pvt. Ltd. The petitioner credited the proceeds of the instrument to the account of G.Ramachandran. G.Ramachandran was allowed to withdraw the amount covered by the purchase of above instrument. The cheque was report as unpaid on 08.01.1992 with the endorsement "Cheque Blocked" and the petitioner had debited the FBP returned unpaid account for Rs. 18,63,932.00 and reversed the FBP liability covered by the above purchase on 14.01.92. The amount for the reversal of the above FBP returned unpaid liability was remitted by one Shri N.Kumar, a close relative of Mr.G.Ramachandran. An amount of Rs.121acs, Rs.5 lacs, and Rs.2 lacs were remitted on 23.01.92, 24.01.92 and 25.01.92, respectively which was kept in Sundry Deposit account and the above said liability was finally reversed on 04.02.92. The petitioner failed to report either about the purchase or about the return of the instrument to the higher authorities and the purchase made by him was far in excess of his powers.

(3.) It i further stated in the statement of imputation annexed to the charge memo that on 5.2.92, the petitioner knowing fully the past transactions of the party above mentioned, again unauthorisedly purchased another cheque 79584035 issued by the same party viz. M/s. Malliga Saravanamuthu alias M.S.Anitha drawn in favour of Shri N.Kumar and on the same account with the Union Bank of Switzerland, Zurich for US $ 1 lac and credited the SB a/c No.46366 of the above said Shri.N.Kumar with Rs.20 lacs and utilized the balance of Rs.5,45,625.00 to create a short term deposit bearing No.304039 dated 05.02.92 for 46 days in the name of Shri N.Kumar. Petitioner had also allowed the above said Shri N.Kumar to withdraw the entire amount of Rs.201acs by case on the very same day viz.05.02.92.