TrendingVideosIndia
Opinions | CommentEditorialsThe MiddleLetters to the EditorReflections
Sports
State | Himachal PradeshPunjabJammu & KashmirHaryanaChhattisgarhMadhya PradeshRajasthanUttarakhandUttar Pradesh
City | ChandigarhAmritsarJalandharLudhianaDelhiPatialaBathindaShaharnama
World | United StatesPakistan
Diaspora
Features | The Tribune ScienceTime CapsuleSpectrumIn-DepthTravelFood
Business | My MoneyAutoZone
UPSC | Exam ScheduleExam Mentor
Don't Miss
Advertisement

ICICI files monetary suit against Chanda Kochhar

Mumbai, January 13 The ICICI Bank has approached the Bombay High Court seeking effect to “termination of appointment” of Chanda Kochhar as its Managing Director and CEO, and also sought recovery of various amounts from her. In a monetary suit...
Advertisement

Mumbai, January 13

Advertisement

The ICICI Bank has approached the Bombay High Court seeking effect to “termination of appointment” of Chanda Kochhar as its Managing Director and CEO, and also sought recovery of various amounts from her.

Advertisement

In a monetary suit filed on January 10, the bank sought dismissal of Kochhar’s petition and stated that the issue can be decided in a commercial suit.

“ICICI has filed a suit seeking recovery of amounts towards the claw back of bonuses given to the petitioner (Kochhar) from April 2006 to March 2018 pursuant to the termination of the petitioner’s services,” the bank said in its affidavit.

A clawback is a provision in which incentive-based pay, like a bonus, is taken back from an employee by an employer following misconduct or declining profits.

Advertisement

The affidavit was submitted in response to a petition filed by Kochhar challenging her sacking, months after she voluntarily left the second largest private sector lender. PTI

Advertisement
Show comments
Advertisement