Judgment

Arijit Pasayat, J.—Leave granted.

2. Damoh Panna Sagar, Rural Regional Bank - the appellant No.1 (hereinafter referred to as the ‘employer’) calls in question legality of the judgment rendered by a Division Bench of the Madhya Pradesh High Court at Jabalpur directing the Board of Directors of the employer Bank (in short the ‘Board’) to reconsider the matter and pass any punishment other than dismissal, removal or termination of the respondent - Munna Lal Jain (hereinafter referred to as the ‘employee’).

3. Background facts in a nutshell are as follows:

On the allegation that while temporarily functioning as the Branch manager of Kabra Branch, the respondent-employee withdrew a sum of Rs. 25,000/- unauthorisedly and such act amounted to misconduct warranting serious penalty. Because of such unauthorized withdrawal, charges were framed against him by charge sheet dated 14.10.1992 alleging that he had withdrawn a sum of Rs. 25,000/- on 6.5.1992 for his personal use. The respondent-employee filed his explanation. Though not disputing the factum of withdrawal, plea was taken by him that during the relevant period condition of his wife had deteriorated and required immediate surgica