DINESH KUMAR GUPTA Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) Quashing of three impugned orders has been sought herein. First one is dated 26.03.2014 passed by the punishing authority imposing on the petitioner, the penalty of reduction to one lower stage in the time scale of pay for a period of one year with cumulative effect and affecting his pension, with further direction that the officer will not earn annual increments of pay during the period of such reduction and on expiry of such period, the reduction will have the effect of postponing the future increments of his pay. Second is dated 05.09.2014/06.09.2014 (Annexure P-11) passed by the Appellate Authority dismissing the petitioner's appeal. Third is dated 04.08.2015/14.08.2015 (Annexure P-12) passed by the Reviewing Authority rejecting the review petition. The petitioner also seeks direction to the respondents to release his dues wrongfully deducted, along with interest.

(2.) Facts first. At the relevant time, petitioner was working as Manager of Lalru Branch of the respondent Bank. He sent e-mails dated 06.07.2011, 08.07.2011 and 20.07.2011 to the competent authority seeking 'in-principle' approval for processing proposals of loans for purchase of shop allotted to the Bank's customers. Due to urgency of situation, during the period 19.07.2011 to 26.07.2011, petitioner sanctioned and disbursed composite loans inter alia for construction of shops to 10 customers ranging from Rs.15 lacs to Rs.25 lacs, aggregating Rs.2.14 crores.

(3.) The petitioner was served with charge sheet dated 07.03.2013 (Annexure P-8) accompanied by statement of allegations for failure to conduct proper appraisal for safeguarding bank's interest while sanctioning the loans for purchase of plots for construction of show rooms/shops, thus putting the Bank's funds in jeopardy. Inquiry report dated 20.02.2014 (Annexure P-9) shows that petitioner filed his reply to the charge sheet which did not find favour with the authority and an Inquiry Officer was appointed to conduct a departmental enquiry.