Legal Question in Employment Law in India

Dear Experts,

I joined as CEO, a local Co-operative Bank in Bangalore in October 2014. Being highly qualified and experienced banker and worked in senior positions in various banks in India and abroad, the management took me on a year's contract, and also that the contract will be renewed by taking department approval later. I resigned from a bank job in Bangalore and reported for duty here

But, within few days of joining, i realised that the management is corrupt, self centered and wanted me to only work as a loan approving CEO for the financial and personal benefits of the board members.

When I resisted to put up non bankable and proposals not in conformity with the loan policy, few board members didnt like me, though the staff and customers respected for me for my good initiatives. The management was even forcing me to put up loans for defaulters, big amounts, beyond repayment capacity of the applicants etc., telling that the "board has powers to do anything"

One fine day I received my termination letter with one month salary cheque as notice period. However, the appointment letter says "one month notice period on both sides" and does not say about one month salary. Meantime, i had already written to the RBI and the REgistrar about the "malpractices" by the Board. Both the President and me were called by the REgistrar and the Registrar orally ordered the President and i be re-instated since my termination is not in order, (no notice, no charge sheet, no enquiry, no proof and no charges). I have sent mail to the bank (i) for reinstatement retrospectively or (ii) salary for full contract 10 months and damage of Rs.1 crore.

Kindly advise where will I file case against this small coop bank in Bangalore and which are the authorities I need to complain against the bank's board. I have few xerox papers of my notes where in i had rejected the loans but still the board had approved and released those loans, after my exit.

1 Answer from Attorneys

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