Termination from bank

Dear Tirtha,

1) Has he submitted any appeal to Appellate Authority against Termination.?

2) Bank has recovereed their loss.

3) His loan amount against Flat is outstanding and overdue... If he cannot repay ask him to help the bank in selling.

4) Afterwards, ask him to submit his PF and gratuity claims.

5) I cannot comment on his chance of getting back his JOB without seeing the papers (charge sheet and termination order)

Dear Sir

Thank you so much for your reply and advice.

1) Has he submitted any appeal to Appellate Authority against Termination.? 

Ans. He had, but was rejected.

2) Bank has recovereed their loss.

Ans. Yes. Loss has been recovered.

3) His loan amount against Flat is outstanding and overdue... If he cannot repay ask him to help the bank in selling.

Ans. Can he ask the bank to let him sell the flat and pay back the outstanding.

4) Afterwards, ask him to submit his PF and gratuity claims.:

Ans. Gratuity and PF forms were sent to him by the bank. And he has submitted the filled up form.

5) I cannot comment on his chance of getting back his JOB without seeing the papers (charge sheet and termination order)

Ans. Will try to send the scanned copy of those.

Thanks again.

If the housing loan for flat is outstanding, usually Bank will not release his Terminal benefits like PF and gratuity.

The bank cannot (under any circumstances whjatsover on eath) refuse PF, even if the housing loan is pending. This fund cannot be attached.

You asked :- Can he ask the bank to let him sell the flat and pay back the outstanding.

In this way he will not get fair price. At times there are chances of corrution in aution sale by bank. Not surprising if the loan remains sstill pending even after sale of house and his progeny keep spayhing.

Regarding disciplinary matter I  observe that basiscally this person has closed all doors of his redemption. He has admitted charge. He has dug his grave deep. (at least as appearing from the facts given above). He has painted himself as theif who has windered and sqandered money are is repaying by selling ancestral property. He may not actually be a cheat. His appeal has been rejected and without seeing the papers none can in such circumstances comment upon whether the matter is worth going to court.

In the eye of law Bank and police are magnanimopus and merciful as the crminal action has been stopped although he has by way of refund provided sufficient material for being convicted.

Dear @ Tirtha and @ Sudhir Kumar,

When bank sanctions housing loan to staff, they always take a letter of appropriation to adjust the terminal benefits in case of resignation, removal from service, superannuation. That is why I said bank will hold the terminal benefits may be as security for the housing loan.. If he had opted for pension the matter has to be re examined whether he will be eligible for the same because of his resignation. This happens in which bank he has been working. 

As Mr Sudhir said, I do agree that if Bank sells realisabale vale will be less... It is better for him to sell the house and repay.. OR he can repay from terminal benefits he can pay and sell the flat later.

The bank has shown much favour to him in withdrawing the police case. This has happened because he covered up the loss... I do agree that he has dug his grave himself... When the appellate authority has rejected his appeal means all doors have been closed.

Doors are not closed after rejectioon of appeal.  But it is not clear from his descripttion whether his case is worth weasting money on going to court.

Further even if bank has shown undue mercy (by withdrawing criminal case) and police agreed still thye are not justified in holding PF. PF is not subject to any attachments.