The Supreme Court on Tuesday rejected Chanda Kochhar’s appeal against the Bombay High Court order which had dismissed her plea against her termination as the managing director and CEO of ICICI Bank, saying the issue falls within the realm of a private bank and employee.

“Sorry, we are not inclined to interfere with the high court order,” a bench headed by Justice Sanjay Kishan Kaul said, adding, “this falls within the realm of private bank and employee”.

The top court was hearing Kochhar's appeal against the March 5 order of the high court which had dismissed her plea against the termination notice served by ICICI Bank.

The high court had accepted the bank's contention that Kochhar's plea was not maintainable.

Kochhar had challenged her termination by ICICI Bank in January last year despite the fact that bank had earlier accepted her resignation in October 2018.

“How can my resignation be converted to a termination?” senior counsel Mukul Rohatgi appearing for Kochhar said.

When the bench said it was her own decision to leave the bank, Rohatgi countered : “But what about my reputation? I worked in this bank for 30 years and now there is sacking involved?”

“Then you are entitled to damages Mr. Rohatgi,” Justice Kaul said suggesting that she can file a separate suit for compensation.

Bail rejected

A Mumbai court on Tuesday rejected a bail plea of businessman Deepak Kochhar, husband of Chanda Kochhar and an accused in a money laundering case.
He was arrested by the Enforcement Directorate (ED) in September under the Prevention of Money Laundering Act (PMLA) in the alleged ICICI Bank-Videocon money laundering case.

Special PMLA judge P P Rajvaidya rejected the `regular' bail application of Deepak Kochhar, filed on merits of the case as against technical grounds.