MUDUNURU SRINIVASA VARMA Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) The petitioner was earlier working in the 1st respondent-Bank in Srungavarapukota Branch, Punyagiri Road, S. Kota, Vizianagaram District. While working in the said Bank, the petitioner had obtained a bank loan of Rs.2,44,840.00 repayable in 20 years. Thereafter, the petitioner constructed a house in the year 1999 with the said loan amount and was paying the instalments to the bank regularly. As security for the loan amount, the petitioner deposited the documents of that house with the 3rd respondent bank.

(2.) The respondents, on the ground that the petitioner had indulged in misappropriation, had initiated a criminal prosecution as well as disciplinary proceedings against the petitioner. The criminal case which was taken up as C.C.No.357 of 2005, in the Court of the Judicial Magistrate of First Class, S.Kota, ended in an acquittal. An appeal bearing Criminal Appeal No.58 of 2015 was filed in the Court of Principal District Judge, Vizianagaram, against which the petitioner has filed a Revision in Crl.R.C.No.2793 of 2015, which is pending before this Court, and a stay was granted in those proceedings against the pending Criminal Appeal No.58 of 2015.

(3.) The disciplinary proceedings ended in dismissal of the petitioner. The final proceedings, on the basis of which the order of dismissal had been granted, also recorded that an amount of Rs.3,90,610.00 had been misappropriated by the petitioner.