ICICI Bank is India's largest private bank and overall second largest bank in the country. Explore more on Chanda Kochhar Icici.
Latest News: ICICI bank sacked Chanda Kochhar for a Videocon fraud On 30 January 2019, ICICI dismiss Chanda Kochar for violating ICICI code of conduct. CHANDA KOCHHAR NEWS Bombay HC dismisses Chanda Kochhar's plea against her termination March 06, 2020 1:01 am Former ICICI Bank MD and CEO Chanda Kochhar had claimed that she had requested in October 2018 for early retirement and the same was accepted by the Board of Directors of ICICI Bank. The contract between the ICICI Bank and Kochhar was private and did not fall under the purview of government services, the bank submitted.It was also submitted by the bank that the directors had decided to treat her separation from the bank as ‘termination of cause’ under internal policies based on Justice Shrikrishna’s report.Appearing for Kochhar, senior counsel Vikram Nankani had argued that Reserve Bank of India’s (RBIs) approval to termination was post-facto and against the Banking Regulation Act.Moreover, senior counsel Venkatesh Dhond, who appeared for the RBI, submitted that approval to the termination of Kochhar was given as per law and granted after careful examination of Justice Srikrishna inquiry report on Chanda Kochhar.The ICICI Bank had also submitted that it had sought due approval from the RBI under Section 35B (1) (b) of the Banking Regulation Act, 1949, for the ‘termination of appointment’ of Kochhar.However, Justice Shrikrishna committee indicted Kochhar in January last year. In Video: ICICI Bank accepts CEO Chanda Kochhar's request for early retirement But, she failed to deal with conflict of interest and its discloses. Find Chanda Kochhar Icici Latest News, Videos & Pictures on Chanda Kochhar Icici and see latest updates, news, information from NDTV.COM. The high court will hear it in due course.As a result, on January 30 last year, the Board informed Kochhar that it has decided to treat her separation from the Bank as ‘termination for cause’ under the internal policies and requires clawback of all bonus paid from April 2009 until March 2018.“It is a mechanical rubber stamping by RBI without application of mind and giving lip service to the ICICI Bank,” Nankani had submitted.Thereafter, Kochhar challenged denial by the employer for agreed remuneration as Managing Director and Chief Executive Officer, without previous approval of the RBI.A division bench of Justices Nitin Jamdar and Makarand S Karnik passed a ruling on Kochhar’s plea and said, “As a result, we uphold preliminary objections by respondent (ICICI Bank). Born: Nov 17, 1961 …
In turn, the Director Board of the ICICI Bank terminated her employment. “Chanda Kochhar has resigned.