{"id":226660,"date":"2020-03-06T17:30:44","date_gmt":"2020-03-06T12:00:44","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=226660"},"modified":"2020-03-12T19:24:07","modified_gmt":"2020-03-12T13:54:07","slug":"bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/","title":{"rendered":"Bom HC | ICICI Bank Ltd. — Petition challenging Chanda Kochhar’s termination order not maintainable; A Writ would not lie to enforce purely private law rights"},"content":{"rendered":"

Bombay High Court:\u00a0<\/strong>A Division Bench of M.S. Karnik and Nitin Jamdar, JJ., addressed the petition filed by ex-MD of ICICI Bank Limited — Chanda Kochhar regarding the challenge towards her termination order.<\/p>\n

The present petition was by the Ex- Managing Director of ICICI Bank who was terminated from her service. The same was approved by the Reserve Bank of India (RBI), which has been challenged by the petitioner in the present petition.<\/p>\n

Complaints against the petitioner were received,<\/p>\n

ICICI, in its meeting held on 29 May 2018, constituted an enquiry by a retired Judge of the Supreme Court of India. In June 2018 the Petitioner informed ICICI that Petitioner would go on leave till the enquiry is completed. By letter dated 3 October 2018, the Petitioner sought early retirement. ICICI, by the communication dated 4 October 2018 accepted the request for early retirement subject to certain conditions. On 27 January 2019, the report of the enquiry was submitted. The report was adverse to the Petitioner. In the meeting held on 30 January 2019, the Board of the ICICI treated the separation of the Petitioner’s service as a Termination for Cause. A communication to that effect was issued to the Petitioner. By further communication dated 1 February 2019, ICICI revoked the retirement benefits of the Petitioner. Correspondence ensued between the parties. The Petitioner called upon the ICICI to restore to the Petitioner the existing and future entitlements, including unpaid amounts, stock options, medical benefits. ICICI refused the request.<\/p>\n

Petitioner along with the challenged to her termination order also sought to refrain ICICI from recovering and\/or cancelling the benefits granted to her for early retirement.<\/p>\n

Preliminary objection of ICICI was that the said bank id not an authority under Article 12 of the Constitution of India and performs no public duty. It is only a private bank having a purely private character. Services of the Petitioner are not governed by any statute, but it is a purely contractual relationship with ICICI.<\/p>\n

Thus, the dispute raised by the petitioner was purely private in nature and would not be subject to writ jurisdiction.<\/p>\n

RBI did not enter into an employer-employee dispute while the approval of the termination of the petitioner.<\/p>\n

\n

Section 35(1)(b) of the Act is a regulatory provision only to oversee that the action of the bank does not have an adverse impact on the depositors or the banking system. Scrutinizing the rights of MD as against the employer is not a matter of focus<\/p>\n<\/blockquote>\n

\n
\n
\n

Analysis<\/strong><\/p>\n

Writs can be issued to the State; an authority; a\u00a0statutory body; an instrumentality or agency of the State; acompany financed and owned by the State; a private body run substantially on State funding; a private body discharging public duty or positive obligation of public nature; and a person or a body under liability to discharge any function under any statute, to compel it to perform such a statutory function. A private company would normally not be amenable to the writ jurisdiction under Article 226 of the Constitution.<\/p>\n

\n

A Writ would not lie to enforce purely private law rights.<\/p>\n<\/blockquote>\n

Contractual duties are enforceable as matters of private law by ordinary contractual remedies such as damages, injunction, specific performance and declaration. Before issuing any writ, particularly writ of mandamus, the Court has to satisfy that action of such authority, is in the domain of public law as distinguished from private law.<\/p>\n

Further, it was observed that, if the private body is discharging a public function and the denial of any right is in connection with public duty imposed on such body, the public law remedy can be enforced.<\/p>\n

ICICI Bank is a private bank administered by the Board of Directors and it is not established under any statutory instrument. It also doesn’t receive funds from the government.<\/p>\n

Section 35(B)(1) shows that appointment, reappointment and termination of Chairman, Managing Director, will not have effect unless it is with the previous approval of the Reserve Bank<\/span><\/p>\n

\n
\n
\n

Also noted that, Courts exercise writ jurisdiction when a public law element involved if the services are governed by a statute<\/p>\n

\n
\n
\n

Banking companies such as ICICI have the freedom to conduct their affairs; however, Reserve bank ensures that their activities will not affect the economy in general. The supervision by the Reserve Bank is in the realm of larger policy.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Bench stated that<\/p>\n

\n
\n
\n

Reserve Bank does not uphold or, adjudicate or decide the rights of the parties inter se, but only focuses on the consequences of the proposed action. The grant of approval by Reserve Bank does not mean that the action of termination is valid in terms of the service dispute. The approval is based on the opinion that no impact on the banking system is discernible.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

Thus, in the present case, the service conditions of the petitioner are not governed by any statute. Termination of the petitioner is in the realm of contractual relationships. Since Section 35(1)(B) does not regulated service conditions, approval for termination under it does not adjudicate the rights of the petitioner as an employee.<\/p>\n

Hence,<\/p>\n

\n
\n
\n

Legal implications of the grant of approval, non-grant of approval or post-facto approval, as the case may be, would be grounds and arguments in the contractual dispute.<\/p>\n

Thus merely because the approval under Section 35B(1)(b) is questioned, that cannot infuse a public law element in this dispute, which remains a contractual dispute. For the contractual remedies, the Petitioner will have to approach the appropriate forum and not writ jurisdiction. Preliminary objection upheld on the above perusal. [Chanda Deepak Kochhar v. ICICI Bank Ltd.,\u00a02020 SCC OnLine Bom 374<\/b><\/a>, decided on 05-03-2020]<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bombay High Court:\u00a0A Division Bench of M.S. Karnik and Nitin Jamdar, JJ., addressed the petition filed by ex-MD of ICICI Bank Limited <\/p>\n","protected":false},"author":8808,"featured_media":74381,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,10],"tags":[39896,39898,39897,39899,30012,13551],"class_list":["post-226660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-highcourts","tag-icici-bank-ltd","tag-private-law","tag-public-law","tag-section-35b-ib","tag-termination-order","tag-writ-petition"],"yoast_head":"\nBom HC | ICICI Bank Ltd. -- Petition challenging Chanda Kochhar's termination order not maintainable; A Writ would not lie to enforce purely private law rights | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bom HC | ICICI Bank Ltd. -- Petition challenging Chanda Kochhar's termination order not maintainable; A Writ would not lie to enforce purely private law rights\" \/>\n<meta property=\"og:description\" content=\"Bombay High Court:\u00a0A Division Bench of M.S. Karnik and Nitin Jamdar, JJ., addressed the petition filed by ex-MD of ICICI Bank Limited\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-06T12:00:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-03-12T13:54:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1331\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bhumika Indulia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bhumika Indulia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/\",\"name\":\"Bom HC | ICICI Bank Ltd. -- Petition challenging Chanda Kochhar's termination order not maintainable; A Writ would not lie to enforce purely private law rights | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg\",\"datePublished\":\"2020-03-06T12:00:44+00:00\",\"dateModified\":\"2020-03-12T13:54:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg\",\"width\":1331,\"height\":887},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bom HC | ICICI Bank Ltd. — Petition challenging Chanda Kochhar’s termination order not maintainable; A Writ would not lie to enforce purely private law rights\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\",\"name\":\"Bhumika Indulia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"caption\":\"Bhumika Indulia\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Bom HC | ICICI Bank Ltd. -- Petition challenging Chanda Kochhar's termination order not maintainable; A Writ would not lie to enforce purely private law rights | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/","og_locale":"en_US","og_type":"article","og_title":"Bom HC | ICICI Bank Ltd. -- Petition challenging Chanda Kochhar's termination order not maintainable; A Writ would not lie to enforce purely private law rights","og_description":"Bombay High Court:\u00a0A Division Bench of M.S. Karnik and Nitin Jamdar, JJ., addressed the petition filed by ex-MD of ICICI Bank Limited","og_url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2020-03-06T12:00:44+00:00","article_modified_time":"2020-03-12T13:54:07+00:00","og_image":[{"width":1331,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg","type":"image\/jpeg"}],"author":"Bhumika Indulia","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Bhumika Indulia","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/","url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/","name":"Bom HC | ICICI Bank Ltd. -- Petition challenging Chanda Kochhar's termination order not maintainable; A Writ would not lie to enforce purely private law rights | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg","datePublished":"2020-03-06T12:00:44+00:00","dateModified":"2020-03-12T13:54:07+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg","width":1331,"height":887},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/bom-hc-icici-bank-ltd-petition-challenging-chanda-kochhars-termination-order-not-maintainable-a-writ-would-not-lie-to-enforce-purely-private-law-rights\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Bom HC | ICICI Bank Ltd. — Petition challenging Chanda Kochhar’s termination order not maintainable; A Writ would not lie to enforce purely private law rights"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a","name":"Bhumika Indulia","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","caption":"Bhumika Indulia"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":240018,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/12\/02\/read-why-supreme-court-refused-to-interfere-with-chanda-kochhars-termination-as-icicis-md-ceo\/","url_meta":{"origin":226660,"position":0},"title":"Read why Supreme Court refused to interfere with Chanda Kochhar’s termination as ICICI’s MD, CEO","author":"Prachi Bhardwaj","date":"December 2, 2020","format":false,"excerpt":"Supreme Court: The 3-judge bench of Sanjay Kishan Kaul, DInesh Maheshwari and Hrishikesh Roy, JJ has refused to interfere with the termination of Chanda Kochhar as the Managing Director and CEO of ICICI Bank. The bench said, \"We are not inclined to interfere with the impugned order for the reason\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":308806,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/12\/09\/supreme-court-dismisses-chanda-kochhar-plea-for-interim-release-of-retiral-benefits-by-icici-legal-news\/","url_meta":{"origin":226660,"position":1},"title":"Supreme Court dismisses former ICICI CEO Chanda Kochhar\u2019s plea for interim release of Retiral benefits","author":"Editor","date":"December 9, 2023","format":false,"excerpt":"Earlier, the Bombay High Court had denied her plea for reinstatement of her Employee Stock Options.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Chanda Kochhar Retiral benefits","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/12\/Chanda-Kochhar-Retiral-benefits.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/12\/Chanda-Kochhar-Retiral-benefits.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/12\/Chanda-Kochhar-Retiral-benefits.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/12\/Chanda-Kochhar-Retiral-benefits.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":209071,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/31\/justice-b-n-srikrishnas-report-declares-former-ceo-of-icici-bank-chanda-kochhar-guilty-of-violating-banks-code-of-conduct\/","url_meta":{"origin":226660,"position":2},"title":"Justice B N Srikrishna\u2019s report declares former CEO of ICICI Bank Chanda Kochhar guilty of violating Bank’s Code of Conduct","author":"Bhumika Indulia","date":"January 31, 2019","format":false,"excerpt":"As reported by media, the board of ICICI Bank had appointed Retired Supreme Court Judge, Justice Srikrishna to investigate in regard to the allegations placed against Kochhar. The investigation concluded with Justice Srikrishna finding Kocchar guilty of violating the lender\u2019s code of conduct. On 30-01-2019, the board of ICICI Bank\u2026","rel":"","context":"In "Business News"","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/01\/chanda-kocchar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/01\/chanda-kocchar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/01\/chanda-kocchar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/01\/chanda-kocchar.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/01\/chanda-kocchar.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":291358,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/05\/05\/chanda-kochhar-news-bombay-hc-refuses-interim-relief-of-retirement-benefits\/","url_meta":{"origin":226660,"position":3},"title":"Interim relief would cause \u2018irreparable harm and prejudice\u2019; Bombay High Court refuses interim relief to Chanda Kochhar, former MD & CEO of ICICI Bank seeking retirement benefits","author":"Arunima","date":"May 5, 2023","format":false,"excerpt":"Bombay High Court observed that it is not appropriate for a Court to hold a mini trial at the stage of grant of temporary injunction.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Bombay High Court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-581.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-581.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-581.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-581.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":243351,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/04\/it-appears-that-chanda-kochhar-has-misused-her-official-position-in-sanctioning-loans-to-videocon-group-read-courts-order-issuing-process-against-the-former-md-ceo-of-icici-bank\/","url_meta":{"origin":226660,"position":4},"title":"‘It APPEARS that Chanda Kochhar has misused her official position in sanctioning loans to Videocon Group’: Read Court’s order issuing process against the former MD & CEO of ICICI Bank","author":"Bhumika Indulia","date":"February 4, 2021","format":false,"excerpt":"Sessions Court, Greater Bombay: Abhijeet A. Nandgaonkar, Additional Sessions Judge, issued summons, being of the prima facie opinion that Chanda Kochhar, Former MD and CEO of ICICI Bank may have misused her official position in sanctioning loans to Videocon Group and got illegal gratification through her husband. FACTUAL MATRIX Accused\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/FED459CD-8D92-4984-BCD4-8E50A5B07C1E.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/FED459CD-8D92-4984-BCD4-8E50A5B07C1E.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/FED459CD-8D92-4984-BCD4-8E50A5B07C1E.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/FED459CD-8D92-4984-BCD4-8E50A5B07C1E.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/FED459CD-8D92-4984-BCD4-8E50A5B07C1E.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":369774,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/12\/13\/bom-hc-quashes-prosecution-of-chanda-kocchar-in-octroi-evasion-case-scc-times\/","url_meta":{"origin":226660,"position":5},"title":"Here’s why Bombay High Court quashed Chandra Kocchar’s Prosecution in Octroi evasion case & ordered to proceed against ICICI Bank only","author":"Editor","date":"December 13, 2025","format":false,"excerpt":"\u201cMere designation as a director is not sufficient; specific role and responsibility must be established in the complaint.\u201d","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Chanda Kocchar","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/12\/Chanda-Kocchar.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/12\/Chanda-Kocchar.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/12\/Chanda-Kocchar.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/12\/Chanda-Kocchar.webp?resize=700%2C400&ssl=1 2x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/226660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=226660"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/226660\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/74381"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=226660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=226660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=226660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}