JUDGMENT

Arijit Pasayat, J.-Leave granted.

2. By the impugned judgment a learned Single Judge of the Delhi High Court directed stay of departmental proceedings till conclusion of the criminal case pending against the respondent (hereinafter referred to as the employee ).

3. The order came to be passed in the following circumstances:

The employee was placed under suspension on 11.5.1994 for alleged omissions and commissions amounting to gross irregularities. He was, at the relevant time, working as officiating manager at the Green Park Extension branch of the bank. According to the employer-Bank (appellant herein) he along with one Y.K. Sharma, another employee of the bank, met Director (Finance) of M/s. Bharat Dynamics Ltd. at his Hyderabad office and requested him to invest funds in the Green Park Extension branch and offered interest @ 14.5% on the invested funds.

4. A cheque of Rs. 60 crores was issued and handed over to the employee for issuance of necessary deposit certificates in the name of aforementioned concern. According to the employer, instead of issuing the deposit certificates the employee got the amount deposited in the current account of one of M/s. Jaydees Internationa