ICICI Bank files suit against Chanda Kochhar seeking recovery of funds

ICICI Bank files suit against Chanda Kochhar seeking recovery of funds

ICICI Bank has filed a recovery suit against the former Managing Director and CEO Chanda Kochhar in the Bombay High Court.

The suit was filed on January 10 and was listed under the category of monetary suits under the Code of Civil Procedure 1908. The bank is represented by law firm Veritas legal and is at pre admission stage.

Through this suit, ICICI Bank seeks to recover around Rs 12 crore that Chanda Kochhar received as part of bonus and other benefits before she was terminated from the bank. According to ICICI Bank, the bonus was disbursed between April 2006 and March 2018.