2003 Lab IC 723 ::2002 AIR - KANT. H. C. R. 3046 ::(2003) 1 BankJ 269 ::(2003) 1 CurLR 7 ::(2003) 1 LabLJ 394 ::(2002) 6 Kant LJ 267 ::(2003) 2 AllIndCas 836 (KAR)

Karnataka High Court

Hon'ble Judge(s): G. C. Bharuka, K. Sridhar Rao , JJ

Banking Companies (Acquisition and Transfer of Undertakings) Act (40 of 1980) , S.19— Vijya Bank Officer Employees' (Discipline and Appeal) Regulations (1981) , Regn.4, Regn.7(3)— Misconduct of causing of pecuniary loss - Punishment - Provision as to recovery of loss from delinquent is supplemental to other penalties provided - Imposition of penalty of recovery of amount of loss in addition to major penalty of dismissal from service, proper. `If an employee is found to be guilty of causing pecuniary loss to the bank than the disciplinary authority apart from imposing any of the major or minor penalties envisaged under Regulation 4, can also direct for recovery of pecuniary loss caused to the institution from the delinquent. This is so even in common law. It requires no specific provision under the Regulations for the purpose. This is more in the nature of civil liability like damages, than a penalty to be based on charge. Item (d) under the heading 'Minor Penalties' in regulation 4 of Vijaya Bank Officer Employees' (Discipline and Appeal) Regulations providing for recovery of pecuniary loss caused to the bank has to be construed as a provision supplemental to the other enumerated penalties and not independent penalty as such. This would mean that if because of some misconduct or dereliction of duty on the part of a delinquent employee, the ban....