The petitioner is working as Assistant Executive Officer in the A.P. Scheduled Castes Co-operative Finance Corporation Limited, the 1st respondent herein. Through proceedings dated 12-03-2010, the 1st respondent placed the petitioner under suspension, pending enquiry. It was alleged that the petitioner had collected a sum of Rs.1,48,400/- from persons belonging to SC category of Ambedkar Nagar and Mukamamidi Villages of Mulakapally Mandal, Khammam District, promising sanction of loans. Contemplating the disciplinary proceedings, the 1st respondent has issued the impugned order. Crime No.15 of 2010 was also instituted on the basis of the complaint, and the petitioner obtained anticipatory bail. The order of suspension is challenged on several grounds.