29-November-2020
Banking
 
Chanda Kochhar moves Supreme Court challenging termination from ICICI Bank.
21-Nov-2020

Former ICICI Bank CEO Chanda Kochhar on Friday moved the Supreme Court challenging her termination from the bank, and sought all the pensionary benefits, including bonuses and stock options, post her retirement. Kochhar has challenged the Bombay High Court’s March 5 order that dismissed her petition against her termination on the grounds that the termination was under a private contract and it can’t be challenged. “This rejection on the ground of “maintainability” by the HC is wholly erroneous, arbitrary, and contrary to law well settled by the SC”, she said, adding that her termination came on January 30, 2019, almost four months after the bank approved her voluntary resignation on October 4, 2018 and therefore, the termination was “illegal, untenable and unsustainable in law”.

News Source:- https://www.financialexpress.com/industry/banking-finance/chanda-kochhar-moves-supreme-court-challenging-termination-from-icici-bank/2133140/