The Supreme Court Tuesday rejected the appeal filed by Chanda Kochhar against the Bombay High Court order which had dismissed her plea against being removed as the managing director and CEO of ICICI Bank. “Sorry, we are not inclined to interfere with the high court order,” a bench headed by Justice Sanjay Kishan Kaul said. “This falls within the realm of private bank and employee,” the apex court said.
Earlier in March, the Bombay HC had dismissed Kochhar's petition challenging the validity of her January 2019 termination for cause, terming it as "not maintainable".
The former ICICI Bank chief has been accused of “illegal sanctioning loans” worth Rs 1,875 crore to Videocon group of companies. It was the CBI which filed an FIR against the former ICICI Bank CEO and her husband on January 22, 2019.
In September, the Enforcement Directorate (ED) had arrested her husband Deepak Kochhar after it filed a criminal case of money laundering after studying an FIR registered by the CBI against the Kochhars, Videocon Group promoter Venugopal Dhoot and others.
The central probe agency 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".
(With inputs from agencies)