(Delivered by Hon'ble Siddharth, J.)

1. Heard Sri R.V. Mishra , learned Counsel for the petitioner and Sri S.C. Dubey, Advocate holding brief of Sri Kartikey Saran, learned Counsel for the respondents.

2. The above noted writ petition has been filed by the petitioner challenging the order dated 15.12.2006, passed by the respondent no.2, Deputy General Manager, Indian Business Department, Head Quarter, Mumbai of the respondents company, whereby, he has reverted the petitioner to Class-II Cadre of Development Officer from the Class I Cadre of Assistant Administrative Officer Grade.

3. The case of the petitioner is that by the order dated 18.04.2001, he was promoted as a Assistant Administrative Officer, Grade-I, after promotion from the post of Class II Cadre post of Development Officer. He applied for a Vehicle Loan on 24.05.2006 before the employer, which was not sanctioned, despite his repeated requests and in illegal and arbitrary exercise of power, he was reverted to the Class-II Cadre post of Development Officer by the impugned order dated 15.12.2006 passed by respondent No.2 on the allegation of unsatisfactory performance.

4. The respondents have filed their Counter