Nisha Ghosal
Ex-ICICI Bank CEO Chanda Kochhar’s appeal against sacking from the bank’s post was rejected by the Supreme Court.
The Court stated, “We are not inclined to interfere in (the) impugned order. This falls within the realm of private contract between bank and employer.”
Former Attorney General Mukul Rohatgi, the complainant’s lawyer, said without any notice there cannot be any sacking.
Mr. Kochhar was arrested in September, under the Prevention of Money Laundering Act, filed by the ED for alleged money laundering.
The Enforcement Directorate’s case is based on a complaint registered by the Central Bureau of Investigation (CBI).
The CBI has alleged that Mr. Dhoot invested in NuPower through another company – Supreme Energy – in a quid pro quo deal via loans cleared by ICICI after Chanda Kochhar took over as CEO of ICICI Bank in May 2009.