L D KANCHAN Vs. INDIAN OVERSEAS BANK

JUDGEMENT

(1.) THE appellant was the manager of the Byculla Branch of the Indian Overseas Bank between February, 1975 and August 1977. On 28th November 1977, a First Information Report was registered in Crime No. 56 of 1977 against the appellant herein and another person by name C. Sharma alleging commission of offences punishable under Ss. 120-B, 420, 467, 468 and 471 of the Indian penal code and S. 5 (1) (d) read with S. 5 (2) of the Prevention of Corruption Act. It was alleged therein that the appellant had granted loans to certain persons who were found to be fictitious persons and that some credit vouchers were prepared by the appellant and C. Sharma and some of the cheques were encashed by them. Hence the allegations of preparation of false documents for granting loans with intent to cheat the Bank were made.

(2.) THE appellant was placed under suspension on 11th November 1977 under Regulation 12 (1) of the Discipline and Appeal Regulations of the Bank.

(3.) IN the normal course, the appellant was due to retire on superannuation on 31st May 1987. By order dated 8th may 1987, the appellant was informed as follows :