Bombay HC: Prime facie removal of Kochhar as ICICI Bank CEO valid

The Bombay High Court (HC) ruled that Chanda Kochhar’s termination from the post of managing director and chief executive officer of ICICI Bank was prima facie valid. It also found invalid the contention Kochhar that once there is cessation of employer and employee relationship then the acceptance of early retirement cannot be revoked.

“Prima facie, I find that the revocation of the early retirement acceptance is valid and do not find, given the facts in the present case, any merit in the contention on behalf of Mrs. Kochhar that once there is cessation of employer and employee relationship, then acceptance of early retirement cannot be revoked”, said a single judge bench of Justice R I Chagla.