Section 42 in Orissa State Financial Corporation (Staff) Regulations, 1975
42. Employees in debt.
(a)When an employee of the Corporation is adjudged or declared insolvent or when a moiety of the salary of such employee is constantly being attached or has been continuously under attachment for a period exceeding two years, or is attached for a sum which is ordinary circumstances having regard to his/her personal resources and unavoidable current expenses can not be repaid within a period of two years. He/she shall be liable to dismissal.(b)In such cases the Managing Director shall report the matter to the Board.(c)Where a moiety of an employee's salary as attached, the report shall show what is the proportion of his/her debts to the salary, how far they detract from the debtor's efficiency as an employee of the Corporation whether the debtor's position in irretrievable, whether in the circumstances of the case it is desirable to retain him/her in the post occupied by him/her at the time when the matter is brought to notice or any other post in the Corporation.(d)In every case under this Regulation the burden of proof that the insolvency or indebtedness is the result of circumstances which with the exercise of ordinary diligence the debtor could not have foreseen or which he/she had no control and does not proceed from extravagant or dissipated habits shall be upon the debtor.(e)Notwithstanding anything contained in the proceeding Sub-Regulations of this Regulation, the Managing Director, may at any time, call for a statement of his/her debts from any employee and after considering the facts and explanations, he may with the previous approval of the Board and after giving sufficient notice in that behalf, terminates the services of such employees.
