PARVESH SEHGAL Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) The petitioner is the widow of late S.K. Sehgal, a Branch Manager of the Punjab National Bank. By way of this writ petition, she seeks payment of the sum of Rs.1,20,000/-, which was deducted by the Punjab National Bank from the salary of her husband while he was in service.

(2.) The case, as set out in the writ petition, is as follows: Earlier, the petitioner's husband was a Branch Manager in the service of the Hindustan Commercial Bank at Chandigarh. The said Bank was merged with the Punjab National Bank in the year 1986. Hindustan Commercial Bank had executed a bank guarantee for a sum of Rs.1,00,000/- on behalf of M/s Swaraj Singh and Associates, Hisar, in favour of the Haryana State Industrial Development Corporation in the year 1984. The bank guarantee was thereafter encashed by the Haryana State Industrial Development Corporation. One Sukhchain Singh had stood as guarantor for M/s Swaraj Singh and Associates and pledged 10 bearer bonds issued by the State Bank of India, Abohar Branch, District Ferozepur, of the face value of Rs.10,000/- each, bearing Nos. A-321111 to A-321120. The bonds were to mature on 28.04.1991 and their maturity value was Rs.1,20,000/-.

(3.) These bearer bonds were stolen while in the custody of the petitioner's husband and the same came to light on 23.01.1986. The petitioner's husband thereupon lodged a criminal complaint with the Police Station, Central Chandigarh, vide FIR No. 91 dated 27.02.1986. He also informed his superiors about the theft of the bonds apart from the State Bank of India, Abohar Branch, District Ferozepur, which had issued them. A Public Notice was also gotten issued by him in the Indian Express dated 02.04.1986 regarding the theft.