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Bombay HC quashes ICICI Bank’s ex CEO Chanda Kochhar’s plea against termination of employment

March 6, 2020[2020] 115 80 (Bombay)

FEMA/BANKING/INSURANCE : Where petitioner, Managing Director of ICICI Bank, was terminated from service and she challenged said termination order by filing a writ petition relying upon the provisions of section 35B(1)(b), it was to be concluded that section 35B(10(b) is not a provision enacted to regulate service conditions between employer and employee and, thus, dispute between petitioner and its employer bank which was a private bank, remained a contractual dispute. Thus, writ petition filed by petitioner was to be dismissed as not maintainable with a direction to petitioner to approach appropriate forum for redressal of her grievance

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