Heard Mr. C. Damodar Reddy, learned Senior
Counsel appearing for Mr. C. Ruthwik Reddy, learned counsel
for petitioner and Mr. B.S. Prasad, learned Senior Counsel
appearing for M/s Pearl Law Associates for Respondents.
2. The case of petitioner is that he entered the service
of respondent bank in 2009 as Assistant and subsequently, on
28-04-2013, he was transferred and posted as Junior Assistant
at SBI, Ganesh Nagar Branch, Mahabubnagar, where he
rendered dedicated service to respondent bank and as a token
of his hard work, he was promoted as Senior Assistant and
posted at SBI, Main Branch, Clock Tower, Mahabubnagar and
directed him to report on 01-06-2018, after undergoing training,
as such, he was relieved from Ganesh Nagar Branch on
20-05-2018 itself. The further case of petitioner is that on
15-12-2018, the Regional Manager, SBI, Mahabubnagar gave
written report dated 05-11-2018 to SHO, I Town Police Station,
Mahabubnagar against him and four (4) Gold Loan Customers
of respondent bank alleging that eleven (11) gold bags are
missing and they have played fraud on the bank by opening
Fifteen (15) fictitious accounts during the period from January,
2016 to May, 2018 through quick Gold Loan mode and
misappropriated the amount to a tune of Rs.35.61 lakhs and
basing on which Crime No.173 of 2018 under Section 408 IPC.
was registered against him and others. On 13-02-2019,
Regional Manager, SBI, Mahabubnagar called for explanation of
petitioner in respect of seven (7) lapses indicated therein, on
receipt of the same, petitioner submitted reply dated
23-03-2019 denying the allegations and explaining the alleged
lapses.
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