Thread by @barandbench

Supreme Court bench led by Justice Sanjay Kishan Kaul hears an appeal against the order of Bombay HC which dismissed petition filed by former ICICI Bank Chief Executive Officer and Managing Director Chanda Kochhar challenging her termination of last year
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@ICICIBank

Senior Adv Mukul Rohatgi: It was not open to the bank to take total action against me virtually recalling my retirement. The question of maintainability has to be examined.

Rohatgi: Termination is invalid for two reasons. Without the prior approval of the RBI, the decisons was taken. Our case is not related to amendment but with legislature.

Rohatgi: No appointment, reappointment and they have converted my resignation to termination. Whether the termination can be done without approving the resignation is a question.?

Justice Kaul: RBI in its wisdom had given its approval.

Rohatgi: The employee is not covered under 35 B (of Employees Act). How can my resignation be converted to termination. The @RBI had no business to do this

Rohatgi: you are dealing with millions of crores of rupees. I am also bringing a public element. The bank is governed by the CCI, SEBI.

SC: Did RBI approve your termination?

Rohatgi: If the RBI had not granted its approval for termination, then it would be null act.

Rohatgi: "What happens to my reputation? I almost worked for 30 years in the bank."

Justice Kaul: you can claim damages then.

Justice Kaul: Your grievance is against the Bank?

Rohatgi: My grievance is against the RBI also.

SC: You decided to go out on your own but now you are saying they are terminating you. The bank is not sacking you. You decided to go out on your own.

Senior Advocate Mukul Rohatgi: please keep the matter for next week

Rohatgi: narrow compass of arguments is RBI has no jurisdiction to grant ex facto approval. Thus my plea lies independent of ICICI Distinction between public and private bank is blurred due to funds they handle

Justice Kaul: we are not inclined to interfere in impugned order. This falls within the realm of private contract between bank and employee.

I am sorry Mr Rohatgi. We cannot interfere

"You decided to go out on your own", Supreme Court refuses to interfere with Bombay High Court order upholding termination of Chanda Kochhar

@ICICIBank @RBI #ChandaKochhar #supremecourtofindia
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