Kochhar’s removal from role as per law: ICICI Bank to HC

ICICI Bank told Bombay High Court the termination of its former CEO and MD, Chanda Kochhar, was as per “contractual clauses” and that it had sought approval from RBI for it.

migrator

Published:3rd Dec, 2019 at 2:38 AM

Mumbai

Kochhar had moved the Bombay High Court challenging ICICI Bank’s decision to terminate her despite the bank having approved her request for early retirement. Appearing for the bank, advocate Darius Khambata told the division bench that the termination was as per “contractual clauses and is justified.”

Kocchar’s purported ‘termination for cause’ was communicated to her by the ICICI Bank in January.

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Kochhar’s removal from role as per law: ICICI Bank to HC

ICICI Bank told Bombay High Court the termination of its former CEO and MD, Chanda Kochhar, was as per “contractual clauses” and that it had sought approval from RBI for it.

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