Business

Bombay HC dismisses Chanda Kochhar’s plea against sacking as ICICI CEO

The Bombay High Court on Thursday dismissed a petition filed by Chanda Kochhar against her termination as managing director and CEO of the ICICI Bank, noting the dispute arises from a contract of personal service.

A division bench of Justices N M Jamdar and M S Karnik accepted the bank’s contention that Kochhar’s petition was not maintainable as the dispute was contractual and concerns a private body.

“The termination of the petitioner is in the realm of contractual relationship,” the court said in its order.

Courts cannot exercise their writ jurisdiction when employment in a private entity is regulated by contracts, it further said.

“Contractual duties are enforceable as matters of private law by ordinary contractual remedies such as damages, injunction, specific performance and declaration,” the high court said.

The bench in its order noted that even if an institution is performing a public duty and is amenable to writ jurisdiction, all its decisions would not be subject to judicial review.

“If the private body is discharging a public function and the denial of any right is in connection with the public duty imposed on such body, the public law remedy can be enforced,” the court said.

It took note of the fact that ICICI was a private bank governed by a board of directors and did not receive any funds from the government.

The ICICI Bank’s counsel Darius Khambata earlier argued that a judicial review cannot be incurred under Article 226 of the Constitution, which empowers high courts to issue directions, orders or writs in such a matter.

The bank sought dismissal of Kochhar’s petition.

Kochhar was terminated from the ICICI Bank months after she voluntarily left the second largest private sector lender.

The high-profile former banker moved the high court on November 30, 2019, challenging “termination” of her employment by the ICICI Bank.

She contended that the bank also denied her remuneration and clawed back all the bonuses and stock options between April 2009 and March 2018, for her alleged role in granting out of turn loans worth Rs 3,250 crore to the Videocon Group which benefitted her husband Deepak Kochhar.

Kochhar’s counsel Vikram Nankani earlier argued that her termination came months after the bank approved her voluntary resignation on October 5, 2018 and therefore, the termination is “illegal, untenable and unsustainable in law”.

The ICICI Bank then filed an affidavit, contending the reliefs in the petition are not maintainable and it deserves to be dismissed as ICICI is a private bank and is administered under the Companies Act, not the state or its agency.

Khambata argued that ICICI was a private banking company and Kochhar’s petition seeks to contest what are purely private contractual terms.

84 Comments

84 Comments

  1. Pingback: Top Universities in egypt

  2. Pingback: برنامج إدارة الأعمال في مصر

  3. Pingback: عملية التقديم لجامعة المستقبل

  4. Pingback: Faculty of Economics and Political Science

  5. Pingback: DENTAL HOSPITAL

  6. Pingback: research and cultural renaissance

  7. Pingback: المشاركة المجتمعية

  8. Pingback: Cloud Computing

  9. Pingback: Continuing Dental Education Courses

  10. Pingback: Future Journal of Social Sciences

  11. Pingback: ما هي وظائف قسم الاقتصاد

  12. Pingback: Dental Education in Egypt

  13. Pingback: Dental specialties training

  14. Pingback: البرامج الاكاديمية بكلية الهندسة

  15. Pingback: Software Engineering Careers

  16. Pingback: ما هي الجامعات الخاصة المعتمدة في مصر

  17. Pingback: Apply now to future university in egypt

  18. Pingback: Maillot de football

  19. Pingback: Maillot de football

  20. Pingback: Maillot de football

  21. Pingback: SEOSolutionVIP Fiverr

  22. Pingback: parcours d'obstacle militaire

  23. Pingback: butterfly pecs

  24. Pingback: Fiverr Earn

  25. Pingback: Fiverr Earn

  26. Pingback: Fiverr Earn

  27. Pingback: fiverrearn.com

  28. Pingback: fiverrearn.com

  29. Pingback: cara daftar sdn bhd murah online ssm

  30. Pingback: ikaria lean belly juice buy

  31. Pingback: clothes manufacturer

  32. Pingback: fiverrearn.com

  33. Pingback: fiverrearn.com

  34. Pingback: fiverrearn.com

  35. Pingback: fiverrearn.com

  36. Pingback: texas heeler puppies

  37. Pingback: YouTube SEO

  38. Pingback: tourist visa vietnam

  39. Pingback: swimsuit

  40. Pingback: phone repair

  41. Pingback: Children jewellery

  42. Pingback: future university

  43. Pingback: agen multisbo

  44. Pingback: bulldogs puppy

  45. Pingback: fue

  46. Pingback: Piano maintenance

  47. Pingback: Upright piano moving

  48. Pingback: Smooth transitions

  49. Pingback: Marketing and sales courses in Cairo

  50. Pingback: Classic Books 500

  51. Pingback: Media

  52. Pingback: Training Philippines

  53. Pingback: Porno star Australia

  54. Pingback: pupuk anorganik cair

  55. Pingback: partners

  56. Pingback: immune boost supplements

  57. Pingback: revival tonic official site

  58. Pingback: سلامة الأدوية

  59. Pingback: live sex cams

  60. Pingback: live sex cams

  61. Pingback: texas french bulldog puppies

  62. Pingback: Queen Arwa University

  63. Pingback: Scientific Research

  64. Pingback: Kuliah Termurah

  65. Pingback: FiverrEarn

  66. Pingback: สล็อตเว็บตรง

  67. Pingback: live sex cams

  68. Pingback: 늑대닷컴

  69. Pingback: Slot klasik

  70. Pingback: nangs near me

  71. Pingback: mobile app development Singapore

  72. Pingback: 918kiss

  73. Pingback: หวย24

  74. Pingback: pg slot

  75. Pingback: upstate hotels

  76. Pingback: nang tanks

  77. Pingback: itsmasum.com

  78. Pingback: itsmasum.com

Leave a Reply

Your email address will not be published.

three + nine =

News is information about current events. News is provided through many different media: word of mouth, printing, postal systems, broadcasting, electronic communication, and also on the testimony of observers and witnesses to events. It is also used as a platform to manufacture opinion for the population.

Contact Info

Address:
D 601  Riddhi Sidhi CHSL
Unnant Nagar Road 2
Kamaraj Nagar, Goreagaon West
Mumbai 400062 .

Email Id: [email protected]

West Bengal

Eastern Regional Office
Indsamachar Digital Media
Siddha Gibson 1,
Gibson Lane, 1st floor, R. No. 114,
Kolkata – 700069.
West Bengal.

Office Address

251 B-Wing,First Floor,
Orchard Corporate Park, Royal Palms,
Arey Road, Goreagon East,
Mumbai – 400065.

Download Our Mobile App

IndSamachar Android App IndSamachar IOS App
To Top
WhatsApp WhatsApp us