HARISH KRISHNAJI DESHPANDE Vs. CENTRAL BANK OF INDIA

JUDGEMENT

(1.) The Petitioner was working as the assistant General Manager in the respondent-Bank at its Pune Camp Branch. He was placed under suspension on September 18, 2000.

(2.) According to the respondent-Bank, the petitioner was guilty of committing grave financial irregularities. A departmental inquiry was held against him. The Inquiry Officer framed charges against the petitioner on March 31, 2001. The gist of those charges is recapitulated as under :- (1) Indiscriminate and reckless sanction of credit limits. (2) Abuse of official power and position in resorting to back-door and unauthorised release of funds to a sick and borrowal unit. (3) Grossly exceeding delegated lending power in a clandestine manner. (4) Unjustified, unauthorised random grant of excess drawing. (5) Total disregard, apathy and least: concern to Central Office/zonal Office instructions leading to an act of rank insubordination. (6) No record of either pre-sanction or post-sanction inspection. (7) Wilful suppression of facts and non-reporting of irregular sanctions. (8) Estimated financial loss to the bank to the tune of Rs. 28.91 crores.

(3.) The Commissioner for Departmental inquiries was the Inquiry Officer.