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2024 Supreme(J&K) 87

JAVED IQBAL WANI
Jammu Central Co-operative Bank Limited – Appellant
Versus
Shiv Kumar Sharma, S/o Sh. Baisakhi Ram – Respondent


Advocates:
Advocate Appeared:
For the Appellant :Mr. Rahul Pant, Sr. Advocate with Mr. Dhruv Pant, Mr. Aniruddh Sharma, Advocate.
For the Respondent:Mr. Anuj Dewan Raina, Advocate.

ORDER :

1. The petitioner herein is Jammu Central Co-operative Bank Limited (for short “the bank”) registered as a society under J&K Co-operative Societies Act, 1989 (for short “the Act of 1989”) being a body corporate having a perpetual succession and common seal with the power to hold property to enter into contracts, institute suits and other legal proceedings and to do all things necessary for the purpose for which it is constituted.

2. The respondent 1 herein being an employee of the bank and while serving as Branch Head of Branch Office Latti in the year 1995, was alleged to have committed grave financial irregularities along with a co-employee of the bank being Cashier-cum-Clerk, namely, Sh. Behari Lal, having committed embezzlement to the tune of Rs. 1,03,700/- from various Saving/Recurring Accounts operated in the bank, resulting into placing of the respondent 1 and the said co-employee - Behari Lal under suspension, and consequently, the initiation of a disciplinary inquiry against them entrusted to one of the officers of the bank wherein the said inquiry, the respondent 1 as also the said Behari Lal came to be charge-sheeted and after the said inquiry into the charges resu

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