[Civil Appeal No. 9087 of 2012 arising out of SLP (Civil) No. 14570 of 2012]. The appellant was inducted into the service of the Punjab National Bank (hereinafter referred to as, the PNB) in the clerical cadre on 19.2.1958. He was successively promoted against the posts of Special Assistant and Accountant with effect from 23.8.1972 and 26.12.1974. He also gained further promotions to the cadres of Manager-B Grade and thereafter, Manager-A Grade with effect from 24.11.1977 and 18.12.1982respectively. He finally came to be promoted to the post of Chief Manager with effect from 1.10.1986. Whilst holding the post of Chief Manager, the appellant retired from service, on attaining the age of superannuation on 31.10.1996. During 1981-1982, when the appellant was posted as Manager at the Sector 19, Chandigarh Branch of the PNB, he was accused of having entered into a conspiracy with R.L. Vaid, the then Regional Manager of the PNB, Chandigarh, and Dr. A.K. Sinha, IAS, the then Secretary, Department of Town and Country Planning, Haryana and thereby, of fraudulently having sanctioned a loan of Rs.2,70,000/- to Mrs. Rama Sinha (wife of Dr. A.K. Sinha, aforementioned). The said loan was granted to Mrs. Rama Sinha, for construction of a building on a plot in Sector 6, Panchkula. The said building, after its construction, was leased to the PNB, at an allegedly exorbitant rent of Rs.4,985/- per month. The loan amount, was to be adjusted out of the rent account. The PNB was allegedly, not in the need of the said building, because it was already housed in a building in Sector17, Chandigarh, at a nominal rent of Rs.1,650/- per month.
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