This appeal is arising out of the judgment and decree passed by the First Appellate Court in A.S.No.47 of 2003 dated 27.12.2004 in allowing the same after setting aside the Judgment and decree passed in O.S.No.270 of 2001 dated 19.09.2003.

2. For the better appreciation of this appeal, the brief averments of the plaint as well as the written statement are reproduced hereunder:

3. The brief averments of the plaint are as follows:

The defendant's society is the society registered under the Pondicherry Co-operative Societies Act. The plaintiff joined service in the first defendant society as a Junior clerk Grade-II and subsequently promoted as Deputy Manager in the year 1998. The entire functioning of the Society was maintained by the Administrator appointed by the Registrar of Co-operative Society. Whileso, one Mr.Kamalakannan who was a sales man of fair price shops number 133 and 178 failed to remit the sale proceeds relating to the months of November and December 1997 and the same was brought to the notice of then Managing Director cum Administrator, who had allowed the said Kamalakkannan to go on voluntary retirement with effect from 30.11.1997, based on the recommendat