Early Times Report
SRINAGAR, Feb13: Following the swift completion of enquiry into the acts of financial irregularities which surfaced at two business units (branches) in Delhi, J&K Bank terminated its two senior officers Thursday after the duo were found guilty. The services of two top officials named Vijay Kumar Khazanchi, Bank's Assistant Vice President and Avtar Krishan Bhat, Executive Manager at the Bank, were terminated vide two separate orders issued by the Chairman & CEO, Mushtaq Ahmad. The orders are being seen as a tough stand taken by the management against corruption and acts of omission and commission. "The bank is committed to zero tolerance against acts of corruption, fraud and even thoughtful negligence", said a senior management functionary of the Bank, adding "The management of the bank is for encouraging greater transparency in the system and doesn't mind axing top functionaries of the bank in case their involvement is established."
"In exercise of the powers vested in me as Competent Authority, I, Mushtaq Ahmad, Chairman and CEO of the bank, hereby terminate the services of Vijay Kumar Khazanchi, Assistant Vice President, Code No. 05850, son of Pushkar Nath Khazanchi R/O: 113-C, Aravali Apartment, Sector 52, Noida, UP under Rule 262 of Officers Service Manual 2000 with immediate effect," read one of the orders. "In exercise of the powers vested in me as Competent Authority, I, Mushtaq Ahmad, Chairman and CEO of the Bank hereby terminate the services of Avtar Krishan Bhat, Executive Manager, Code No. 04166, son of Jia Lal Bhat R/O: 165, Ghalib Apartment, Pitampura, New Delhi under Rule 262 of Officers Service Manual 2000 with immediate effect," the other order said. The issuance of order at the highest level is being taken positively by the observers and employees of the bank. "This speaks of the seriousness with which Chairman is looking at the issue. It is positive, it is encouraging and will surely send clear but strong signals to the black sheep who are playing with the reputation of this prestigious institution for petty personal gains", said a section of observers. Notably, both the orders culminated with the forceful assertion that the order is issued without prejudice to the Bank's right to proceed against the erring officers "for recovery of loss incurred by the Bank" as also any outstanding in their name in the books of the Bank through legal process including both criminal & civil proceedings and also attachment of properties. |
