GOPALA GOWDA, J, J.

( 1 ) THE petitioner, who is the Personnel Officer of Indian Telephone industries (hereinafter referred to as the Company ), has filed this writ Petition seeking to quash the impugned Memorandum at annexure-P dated 19-3-1996 issued by the 2nd respondent Chairman and Managing Director of the company imposing penalty by reducing him to lower post of Grade-II with condition that he should be restored to Grade III after two years and treating the period of suspension as not spent on duty. A direction is also sought by him to grant him all the consequential benefits and to restore the order of Memorandum produced at Annexure-Q by which he was exonerated from the charges leveled against him.

( 2 ) THE facts of the case in brief are stated as under :- (I) The Central Bureau of Investigation (CBI) filed C. C. No. 2503/ 92 under of Sections 417, 419, 420 r/w 511 and 120-B I. P. C. against the petitioner and one M. V. V. Reddy, Chairman of All India Economic offences Awareness Bureau (AIEOAB), a voluntary organization engaged inter-alia in the prevention of malpractices by the big industrialists. The allegation was that they demanded amounts from some of the industries lik

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