Case Law Details
Chanda Kochhar Vs ICICI Bank Limited (Bombay High Court)
Bombay High Court held that it is well settled that it is not appropriate for a Court to hold a mini-trial at the stage of grant of temporary injunction
Facts- The main issue raised by appellant (Chanda Kochhar) in these proceedings is – Whether respondent (ICICI Bank Ltd.), 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?
Appellant is primarily seeking relief with respect to specific performance of the letter dated 4th October 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”).
Conclusion- Appellant is an individual, whereas respondent is a public listed company. It is also well settled that it is not appropriate for a Court to hold a mini-trial at the stage of grant of temporary injunction as held in Zenit Mataplast Private Limited V/s. State of Maharashtra & Ors.2
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