Chanda Kochhar moves court against ICICI Bank

Former ICICI Bank CEO Chanda Kochhar./ File photo

Former ICICI Bank CEO Chanda Kochhar./ File photo   | Photo Credit: PTI


Former ICICI Bank MD and CEO Chanda Kochhar has moved the Bombay High Court challenging the bank’s decision to terminate her from service last year. The petition was filed on November 20 and will be heard on December 2 before a division bench of Justices Ranjit More and M.S. Karnik.

The petition said, after having accepted her request for early retirement with effect from October 4, 2019 — after which she would cease to be an employee of ICICI Bank — the bank ought not to have terminated her services.

Following charges of quid pro quo, ICICI Bank had commissioned an enquiry against Ms. Kochhar headed by retired justice B.N. Srikrishna. After the panel’s report, the bank decided to terminate her services. ICICI Bank’s decision to claw back her past bonuses has also been challenged.

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Printable version | Dec 14, 2019 9:01:22 PM |

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