JUDGMENT

C.K. THAKKER, J. 1. Leave granted.

2. The Haryana Financial Corporation (hereinafter referred to as `the Corporation), being aggrieved by the decision of the High Court of Punjab & Haryana dated November 6, 2006 in Civil Writ Petition No. 8299 of 2005 has approached this Court. According to the appellant, the order passed by the High Court is not in consonance with law laid down by this Court in several cases, particularly, a decision of the Constitution Bench of this Court in Managing Director, ECIL, Hyderabad & Ors. V. B. Karunakar & Ors., (1993) 4 SCC 727.

3. To appreciate the grievance voiced by the Corporation, few relevant facts may be stated; The respondent herein (writ petitioner before the High Court) Kailash Chandra Ahuja was appointed as Technical Officer in the Corporation in June, 1979. According to the appellant-Corporation, he was given `warning in 1984. In 1993, he was working as Deputy General Manager. In 1997, he was reprimanded. On August 17, 1999, he was working as Branch Manager at Branch Office, Rewari.

4. The Corporation initiated proceedings against the writ-petitioner in accordance with Regulation 41 (1) and (2) of Punjab Financial Corporation (Staff