Head - Outsourcing
Pl verify the service rules of your Bank regarding departmental action for recovery of loan recommended by you whilst in service. Disciplinary action cannot be taken against you, since after relieving from the Bank service - there will be no employer-employee relationship.
N Nataraajhan, Sakthi Management Services (HP : + 91 94835 17402 ; e-mail : firstname.lastname@example.org)
14th June 2015 From India, Bangalore
But on the other hand if am employee does a wrongful act intentionally causing loss ,he can be taken by previous employer to court even after he retires/quits etc.
Otherwise employees will do fraud and quit before it is discovered.
Please check out your bank rules,whether any departmental action had commenced before retirement etc.
14th June 2015 From India, Pune
15th June 2015 From India, Madras
Has all the loans issued verified properly? Make a list of doubtful cases at least now and alert all concerned. Best of luck.
16th June 2015 From India, Madras
There are other supervisory staff also in the chain.
Is he the sole person to verify?
He needs to take all factors into consideration.
Full facts are not presented here.
If the action had been negligent,malafide or tainted by other considerations,then law can act against the person.
On the other hand if due diligence as per his bank rules has been done,then he need not fear any investigation.
He should not on his own submit any list of doubtful debts at this stage.
If he fears departmental action he needs to talk to is lawyer-the whole picture can be discussed between lawyer client-including the fact that he still is a Government servant.
Our advice is based on his one paragraph post.
16th June 2015 From India, Pune
I am sure you must have recommended the loans based on study,review and cross checks-financial statements,financial projections etc.
Banks have laid down procedure for recommending loans-Have you followed procedure?
No one can predict what will happen if loans were found to be recommended without due diligence and violating bank procedure.
IF you have done due process/diligence then put this worry out of your mind and focus on new job.
Loans can become bad due to other reasons-commercial,economic situation etc.
18th June 2015 From India, Pune
If the loan recommendation was done without following the procedure/due diligence or the recommendation was intentional by violating the laid down procedure/due diligence by the bank, then the Bank can proceed for legal suit against you.
19th June 2015 From India, Ahmadabad