( 1 ) THE petitioner was working with UCO Bank. He was appointed as Assistant Cashier on 26-8-1967 and was promoted as Special Assistant on 16-11-1977. As a Special Assistant he was in the workmen category. The workmen staff in the banks are governed by Bipartite Settlement, Shastri and Desai Awards in respect of various service conditions. He was promoted to the post of Junior Management Grade (Scale-I) (hereinafter referred to as JMGS-1 "for short") w. e. f. 1-5-91. As JMGS-1 he came in Officer rank. Officer in the bank in disciplinary matters, are governed by "united Commercial Bank Officer Employees" (Discipline and Appeal) Regulations, 1976 (hereinafter to be referred as (Discipline and Appeal) Regulations ).

( 2 ) WHILE petitioner was working as Special Assistant and was posted in Chawri Bazar Branch of the bank, three FDRs of Rs. 25. 000. 00 each on the basis of transfer voucher were prepared in the name of one Shri Ramesh Kumar on 23-3-81 for a period of 46 days. Petitioner was one of the signatories on these three FDRs, Other signatories being Shri Mohan Jotwani, the then Manager of the FDR Department. These FDRs matured on 8-5-81 and said Shri Ramesh Kumar