A.P. Shah, C.J.

1. The appellant has challenged the decision of the learned Single Judge dismissing his Writ Petition and upholding the order passed by the Securities and Exchange Board of India, the second respondent herein, terminating the service of the appellant.

2. The appellant was temporarily appointed as an Officer in the Securities and Exchange Board of India (SEBI) on 10.4.1989. The appointment was subject to SEBI Service Regulations, 1988. Regulations 10(1) and 10(4) inter alia read as follows:

"10(1). A person directly appointed in any of the specified scales of pay shall be on probation for a period of two years.

10(4). During the first month of his probation, an employee shall be liable to be discharged at one day's notice and thereafter at one month's notice or by payment of substantive pay for one day or one month as the case may be in lieu thereof. Provided that an employee promoted from one grade/scale to another shall, during the period of probation be liable to be reverted to the grade/scale from which he was promoted."

3. While on probation, the appellant availed of leave from 31.7.1989 to 09.8.1989, again from 10.8.1989 to 13.10.1989 and again from 06.1