Chanda Kochhar takes ICICI Bank to Bombay HC; hearing on December 2
Chanda Kochhar, ICICI Bank’s former managing director and chief executive officer, has moved the Bombay High Court, challenging the decision of the bank’s board earlier this year to terminate her employment and claw back the bonuses and stock options she received between April 2009 and March 2018.
A division Bench of the high court comprising Justice Ranjit More and Justice Makarand Karnik will hear Kochhar’s plea on December 2. With this, the stage is set for an intense legal battle between the bank and its former CEO.
Last year, after media reports raised questions over Kochhar’s dealings with the Videocon group, the bank’s board had initially defended her and rejected any external enquiry, but later changed its stance after the Central Bureau of Investigation (CBI) started its probe into the matter.
