SURVARNAYUG SAHAKARI BANK LTD Vs. SURESH SHIVAJIRAO KALE

JUDGEMENT

(1.) Rule. Rule is made returnable forthwith. With the consent of the learned Counsels for the parties, these three Petitions are taken up for final hearing.

(2.) These three Writ Petitions involve challenge to judgment and order dtd. 21/6/2016 passed by the Maharashtra State Co-operative Appellate Court, Mumbai. The judgment and order dtd. 21/6/2016 has been passed by the Co-operative Appellate Court in two proceedings bearing Appeal No.169 of 2015 and Appeal No.178 of 2015. Appeal No.169 of 2015 was filed by Suvarnayug Sahakari Bank Limited (Petitioner-Bank) challenging the judgment and order dtd. 15/9/2015 passed by the Co-operative Court No.1, Pune, in Dispute No.184 of 2008 setting aside termination order of the Respondent-employee and directing payment of compensation of Rs.31,00,000.00 in lieu of back-wages alongwith future interest at the rate of 6% per annum. The Respondent-employee had also challenged the judgment and order of the Co-operative Court dtd. 15/9/2015 by filing Appeal No.178 of 2015 to the extent of restriction of compensation at Rs.31,00,000.00 and for its enhancement. The Co-operative Appellate Court dismissed Appeal No.169 of 2015 filed by the Petitioner-Bank. It however partly allowed Appeal No.178 of 2015 filed by the Respondent-employee modifying the decision of the Co-operative Court by increasing the rate of interest from 6% to 9% on the amount of compensation of Rs.31,00,000.00.

(3.) Petitioner-Bank is aggrieved by the judgment and order dtd. 21/6/2016 passed by the Maharashtra State Co-operative Appellate Court and has filed Writ Petition No.12485 of 2016 to the extent of dismissal of its Appeal No.169 of 2015. It has also filed Writ Petition No.12483 of 2016 to the extent of partly allowing Respondent-employee's Appeal No.178 of 2015 by increasing the rate of interest from 6% to 9% on the amount of compensation of Rs.31,00,000.00.