RAKESH KUMAR TYAGI Vs. STATE OF UTTAR PRADESH

JUDGEMENT

(1.) The petitioner questions an order of the Chief Executive Officer, District Cooperative Bank Limited, Ghaziabad dtd. 18/11/2024 and the resolution of the Committee of Management of the said Bank dtd. 8/10/2024, in effect, withholding a sum of 19,25,500/- out of his post retiral benefits on account of loan disbursed by the petitioner, that have turned into non-performing assets, allegedly due to callous disbursement of those loans to customers.

(2.) The petitioner retired from service of the District Cooperative Bank Limited, Ghaziabad (for short, 'the Bank ') as a Senior Branch Manager on 31/12/2022. He entered service of the Bank as a Clerk-cum-Cashier on 12/7/1988, steadily earning his promotions to the post of a Senior Branch Manager that he held at the time of retirement. It is the petitioner 's case that he had an unblemished service record. Upon retirement, all that was paid to him was his contributory provident fund and nothing else. The petitioner, therefore, made an application dtd. 1/1/2024 to the Chief Executive Officer of the Bank, requesting the release of his post retiral benefits and explaining his position in regard to some loans that he had sanctioned, which turned into non-performing assets.

(3.) On 18/1/2024, the petitioner moved another application, pointing out the lapse on part of other incumbents in the office of the Branch Manager, where the loans had become non-performing assets in not taking timely steps to recover. He moved yet another application on 12/3/2024 to the Bank, claiming release of his post retiral benefits in their entirety. Still another application was made by the petitioner on 16/4/2024 to the Bank, pointing out that in view of the provisions of the Payment of Gratuity Act, 1972, the gratuity of a retired employee can neither be forfeited nor adjusted.