Judgment

Srikrishna, J.—This appeal by special leave impugns the judgment of the Delhi High Court in Letters Patent Appeal No. 331/1999.

2. The appellant joined the service in Delhi Stock Exchange - the First Respondent in this appeal - as General Manager with effect from 5.5.1992. Initially, he was in-charge of the Market Division and later on made in-charge of Investor Grievances Cell. He is highly qualified academically, holding two first class Masters Degrees in Commerce and Arts, and three core professional Degrees of Chartered Accountant, Company Secretary and Cost Accountant. In the initial stages, the appellant’s service was very much appreciated by the First Respondent as a result of which he was granted accelerated increments. While he was in charge of the Investors Grievances Cell, he took strict action against certain members of the Respondent Stock Exchange. This caused some dissatisfaction in the minds of some of the brokers. On 9th June 1995 there was a murderous assault on the appellant and an FIR was lodged with the police. It is the case of the appellant that till about October 1995 the Executive Director, in-charge of the First Respondent appreciated the appellant’