Heard the learned counsel appearing for the parties concerned.

The brief facts of the case are as follows:

2. The petitioner had been appointed as a clerk in the third respondent Bank. While so, he was kept under suspension, along with some other employees of the third respondent Bank, based on the charge of creating false documents, with regard to the jewels pledged in the third respondent Bank and for causing a loss of Rs.67,000/-to the third respondent Bank.

3. It had been alleged that the petitioner had committed theft of the jewels pledged with the third respondent Bank, by replacing the original jewels with jewels with gold covering thereby, causing a loss of Rs.2,30,880/-. Penal action had been initiated against the petitioner and three others on the basis of the enquiry report submitted, under Section 81 of the Tamil Nadu Co-operative Societies Act, 1983, (hereinafter referred to as "the Act").

4. It has also been stated that when the Secretary of the third respondent Bank was on leave, the second key of the jewel locker with No.3205 had been handed over to the petitioner during the period from 6. 1993 to 8. 1993. The Secretary, P.Murugesan, had the key of the