Chennai- It is well settled in law that once a charge of misappropriation is proved against a bank officer or employee in any department or organisation, who is dealing with money, the employer will lose trust and confidence in him. In such cases there cannot be any other punishment than dismissal as held by the Supreme Court.Online GST Certification Course by TaxGuru & MSME- Click here to Join
Justice N. Paul Vasanthakumar made the observation while dismissing a petition by a Senior Manager of a nationalised bank who challenged a 1994 order dismissing him. In his petition, M. Ramanujam submitted that he held the post of Senior Manager in Indian Overseas Bank. The charge was that he misappropriated bank funds amounting to Rs.57,021.
In his order, Mr. Justice Paul Vasanthakumar stated that the dismissal order could not be interfered with, particularly when misappropriation committed by the petitioner and loss to the bank had been established through enquiry and accepted by the disciplinary authority and appellate authority.