Prima facie termination of Kochhar as ICICI CEO valid, says HC; won't get post retirement benefits

The Bombay High Court on Thursday said the termination of Chanda Kochhar from the post of CEO of ICICI Bank was prima facie "valid" and dismissed her interim application seeking post-retirement benefits. A single bench of Justice R I Chagla also directed Kochhar to not deal with the bank's 6.90 lakh shares she had acquired in 2018. It asked Kochhar to file an affidavit within six months disclosing dealings made, if any, with respect to the shares.

from Banking/Finance-Industry-Economic Times https://ift.tt/BGdYi3E