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Whether the termination, in present case, be termed an innocuous termination simpliciter or an order of punishment based on the alleged misconduct of the petitioner?
“The SEBI has been established under SEBI Act as a statutory and regulatory body to protect the interest of the investors in securities and to promote the development of and to regulate the securities market and for matters connected therewith or incidental thereto.”
“The term ‘serious crime’ connotes a crime beyond the ordinary, inviting a more serious major punishment than what may be given in the case of a minor omission.”
“Credible evidence even of a hostile witness can form the basis for conviction in a criminal trial and his/her evidence can be accepted, if he/she is a natural and independent witness.”
The ACP Scheme mandates upgradation to the next higher grade in the existing hierarchy and the petitioner, being a Constable, was entitled to the 1st ACP upgradation in the existing hierarchical pay scale.
The Calcutta High Court determined that the termination, despite being framed as simpliciter, was based on respondent’s alleged misconduct.