SURESH CHANDRA SINGH Vs. BANK OF BARODA

JUDGEMENT

(1.) The present writ petition has been filed under Article 226 of the Constitution of India wherein the petitioners have prayed for the issuance of a writ of mandamus directing the Bank of Baroda (hereinafter referred to as 'respondent no.1') and Reserve Bank of India (hereinafter referred to as 'respondent no.3') to restore the illicitly embezzled fund of Rs.38,78,000.00 inclusive of penal interest at the rate of 24%. FACTS

(2.) The factual matrix of the present writ petition is delineated below:

(3.) The learned counsel appearing on behalf of the petitioners has made the following submissions: