Resignation from service
pearl
(Querist) 19 August 2014
This query is : Resolved
Hello,
I am working as manager in a private sector bank. I've completed 5 years of service in this bank. I have achieved various awards and accolades for various achievements in this bank.
I had submitted my resignation from the service of the bank on march 2014 and i completed my notice period of 3 months. I had received communication from the bank on 10.04.2014 stating that your resignation letter is not accepted till the further decision of the management.
afterward on 20.04.2014, i had sent letter that i do not want to continue service of the bank and i request you to kindly relieve me on or before 20.06.2014. afterwards i received a letter in May 2014 that I can not be relieved untill compliance of the Internal Inspection remarks.
In the meanwhile, i had received letter from HR dept that I have demoted as officer and new manager should join on 26.04.2014. Afterwards, I rectified all the features mentioned in the Internal Inspection report and the same vetted by the current manager.
Afterwards, I went to Central office for my relieving, the HR told that I have to take clearance from Inspection department and again the Inspection department provided me list to complete the compliance which mentioned the recovery of the default jewel loan.
I would like to inform that one jewel loan disbursed at our branch on Jan 2013of Rs.9 lakhs and afterwards it was found that the pledged jewels are spurious in nature in Sept 2013.
It was reported to Inspection department, central office and the dept asked to close the jewel loan {outstanding amount Rs 6 lakhs}. Afterwards continuous follow up was made to customer to close the stated loan. The customer deposited some amount and as on date outstanding balance is Rs. 3.35 lakhs.
I have not received any communication from the central office for lodging FIR against the customer.
Now, on 30.07.2014, I again sent letter to HR department requesting to relieve me on or before 31.07.2014 as I have served my notice period also. But the Bank is saying that they will relieve me after the closure of the jewel loan account and Inspection department is going to fix the personal responsibility upon me.
The Bank has not provided me the resignation acceptance letter also till now.
Hence, I request you to kindly guide me that-
1-What are the actions I can take against Bank under which laws?
2-What are the legal actions Bank can take against me?
3-What are the legal implications, I can face if i file suite against Bank?
Thanking You
malipeddi jaggarao
(Expert) 19 August 2014
First of all why are you leaving the Bank? Do you have any other offer on hand? If so how much time they have given you to join with them? Will they insist for clean relieving letter from the existing private Bank? Or you can manage to join in the new assignment without relieving letter? Have you revealed that you are working with a private Bank to the prospective employer? Are you leaving to join somewhere or you are leaving the present job without any offer on hand.
This is the vital information required for giving proper advice to you.
Coming to your issue:
1. Keep copies of correspondence as evidence if required in future.
2. Do not entertain any verbal dual with the Bank Management. Insist anything in writing.
3. Your awards and accolades are of no use. your achievements are not important. Your way of work is important.
4. Are there any other irregularities still pending except the one jewel loan mentioned in the query?
5. The procedure for sanctioning the jewel loan, as I believe is - the subordinate officer who is looking after advance portfolio will entertain the loan request from the existing customers who are already dealing with you. He might have observed all KYC norms while processing such request. The Bank's nominated gold appraiser, normally a local goldsmith will certify about the weight and quality of the gold, which would have been countersigned by the loan processing officer. Then only it will come to the Manager for sanction. If you followed all these steps, you are not responsible if the customer deposited furious gold jewelry. However, all these factors will come later if they initiate any action against you.
For the present, you can write a simple letter quoting your requests for relieving you and their letters. As you have complied rectification of apparant irregularities pointed by inspection and audit department, you request them to relieve you immediately. As regards closure jewel loan, you can write to the Bank stating that banking is risk-oriented activity and in this case it is the commercial risk for which you will not be held responsible.
However, you can also prevail over the customer to close the account threatening the police case for cheating the Bank.
You can contact me in case of need over my mobile 9490753458 or by mail jaggaraom@gmail.com.
ajay sethi
(Expert) 19 August 2014
well advised by MR Malipeddi
Rajendra K Goyal
(Expert) 19 August 2014
The customer is repaying the loan, it seems it would be closed in near future. You can write to Bank to allow you to file FIR against the customer, if you receive any thing in writing from Bank about the loan. Send request letter to relieve you immediately.
If the Bank proceed to initiate against you, take help of some experienced lawyer or of defense representative in disciplinary proceedings.
Kumar Doab
(Expert) 19 August 2014
Mr. Jaggarao and Mr. Goyal has given valuable advise.
Kindly follow it.
You must obtain the copy of 'Approved Jeweler's' report and counter the contentions of the bank that you are responsible for spurious jewels.
The bank has already issued communications that your resignation is accepted.
All communications/representations to the bank may now be preferable structured/drafted by your able counsel/lawyer.
Approach your counsel/lawyer AS AP.
pearl
(Querist) 19 August 2014
Respected All,
I would like to thank for your valuable suggestions.
As, Mr. Doab mentioned, I would like to inform that the Bank has not accepted my resignation letter.
Further as queries raised by Mr. Jaggarao, I would like to inform the following-
1.I am having very good job offer from another Bank and they are insisting to join immediately. I have inform them that my relieving is still pending from my current employer. The prospective Bank is insisting to join on 1st Sep 2014.
2.The Prospective employer told that they can give me 15 days time to get the certificates and relieving letter from the current employer.
3.I have followed all system & procedures while granting the Jewel Loan i-e; KYC and obtaining the documents. As, you have mentioned the correct procedure which has been followed in this case.
4.None of the irregularities are pending .
As I’ve mentioned earlier, I have submitted the request letter for acceptance of my resignation and immediate relieving, but the Bank has not accepted my resignation and there is no communication from the Bank side.
Seek your guidance.
Thanking You
malipeddi jaggarao
(Expert) 20 August 2014
Why have you come with a fictitious name? You can as well post your query with your correct name. Anyway, another option to you is:
1) Send a letter to your existing employer that nothing is pending from your side, you have already served the notice and notice period is over, you have already requested them to relieve you as you have completed all formalities, and they should send a unconditional relieving letter within one week receipt of this letter, otherwise in the absence of specific reasons, you will construed yourself as relieved from your position. Any consequential loss that may occur in future to you would be suitably taken up for claiming damages.
2) Show the entire correspondence to the prospective employer and request them to allow you to join in their organisation without insisting for relieving letter from the present employer.
Before taking the above two steps, better you have thread-bare discussion with HR of the prospective employer so that you not become jobless in both the places.
Kumar Doab
(Expert) 20 August 2014
Once again agreed with Mr. Jaggarao.
Regret I posted that ‘Resignation has been accepted’ by oversight.
The bank has declined to accept the Resignation.
Once employee has submitted resignation the employee has ended the employer-employee relationship……………………….
You have complied to exit policy by tendering and serving the notice period.
You have complied with KYC policy and bank has not acted against the borrower.
Did the bank/you obtain approved valuer’s/Goldsmith’s report?
If yes on strength of which evidence bank is fixing responsibility on you?
If NO is it not required as per bank policy?
Did you ask the bank to allow you to lodge FIR in writing?
If yes you have built a document in your favor.
You have rectified the errors and new manager has vetted it. Hope you have a copy.
In Sep2013 the spurious jewels were reported and Bank asked to close the loan and loan has not been closed and Inspection Dept. has again asked to close the loan in a fresh list handed over to you.
From Sep2013 (ALMOST 1 YEAR) probably bank has not filed any FIR/complaint against the approved valuer, borrower and has rather resorted to recovery thru employees and withholds resignation from employment.
Does Bank policy approved by its board,
permit such approach????
Apparently the bank is also deficient.
Do you have any evidence on record of the deficiency of the bank?
You have posted that :
“Now, on 30.07.2014, I again sent letter to HR department requesting to relieve me on or before 31.07.2014 as I have served my notice period also. But the Bank is………… SAYING……………… that they will relieve me after the closure of the jewel loan account and Inspection department is going to fix the personal responsibility upon me.”
THE BANK IS SAYING AND BANK’S HR HAS NOT WRITTEN IT.
YOU NEED TO CLARIFY THAT YOU ARE PERSONALLY NOT RESPONSIBLE AND BANK HAS NOT ACTED UPON BY EITHER FILING FIR ON ITS OWN OR BY ALLOWING YOU………….
Probably you and bank has realized that the borrower shall not pay the balance loan or pay it easily or the borrower may also entangle you and bank in litigation and recovery may be delayed…………………
The bank has therefore decided to step on your toes.
You need to cover all such points.
You should request to allow you to examine your personnel file………………..
If at all prospective employer is willing to extend the joining by 15 days obtain such communication in writing.
It is most unlikely that prospective employer shall accept and absorb you without ‘Proper Relieving‘letter from current employer and more so if you share the details with them.
At the same time there are employers and Managers that go by facts of the matter and can realize that Candidate is not at fault.
Here you have to apply your judgment.
It is felt that besides hurrying to join next employer you should Act firmly with current employer as well.
The matter may not get resolved easily.
Download the bank policy on due diligence in loans, HR policy, exit policy, service rules and regulations, conduct and discipline rules etc………………………and all communications pertaining to the issue at your hands and spend quality time with counsel/Labor Consultant/service lawyer………………………and let all communications be now structured by your counsel.
Build enough written record to favor you……….
Mr. Jaggarao has offered to help.
You may contact and benefit from expertise of Mr. Jaggarao.
T. Kalaiselvan, Advocate 
(Expert) 24 August 2014
