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SC rejects appeal against Chanda Kochhar sacking as ICICI Bank's CEO and MD


New Delhi, Dec 01: Supreme Court on Tuesday refused to interfere with Bombay HC order which dismissed the petition filed by former ICICI Bank Chief Executive Officer and Managing Director, Chanda Kochhar challenging her termination last year, in connection with ICICI-Videocon case.

Chanda Kochhar

Sorry, we are not inclined to interfere with the high court order, a bench headed by Justice Sanjay Kishan Kaul said.

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This falls within the realm of private bank and employee, the apex court said.

The bench was hearing Kochhar's appeal against the March 5 order of the high court which had dismissed the plea against termination of her services as managing director and CEO of ICICI Bank while noting that the dispute arises from a contract of personal service.

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    The central probe agency had arrested Deepak Kochhar in September after it filed a criminal case of money laundering after studying an FIR registered by the CBI against the Kochhars, Dhoot and others.

    It has slapped money laundering charges against the Kochhars and their business entities for "illegal sanctioning of loans amounting to Rs 1,875 crore to the Videocon Group of companies".

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