CHANDA KOCHHAR Vs. ICICI BANK LIMITED

JUDGEMENT

(1.) These appeals impugn a common order and judgment pronounced on 10/11/2022 by a learned Single Judge of this Court who dismissed appellant's Interim Application No.1014 of 2022 but granted reliefs in Interim Application No.307 of 2020 filed by respondent. The main issue raised by appellant in these proceedings is - Whether respondent, having accepted appellant's request for early retirement, could subsequently terminate appellant's services for cause with effect from the date of acceptance of early retirement?

(2.) Appellant, in a suit filed by her, viz., Suit No.114 of 2022, is primarily seeking relief with respect to specific performance of the letter dtd. 4/10/2018 by which respondent accepted appellant's early retirement and the benefits referred therein under the early retirement scheme. Appellant is, inter alia, seeking reinstatement of her Employee Stock Options ("ESOPs") under the Employee Stock Option Scheme ("ESOS").

(3.) As against appellant's claim, respondent in its Suit No.313 of 2020 has sought clawback of bonuses and revocation of retirement benefits, including vested and unvested ESOPs. It is respondent's case that the services of appellant was treated as "termination for cause" with effect from