Kochhar’s lawyers claimed that her services are governed by a statute, more particularly Section 35B(1)(b) of the Banking Regulation Act. Further, the RBI’s grant of approval for her termination directly affected her rights, and therefore such order is justiciable in writ jurisdiction.
Though ICICI Bank is not an authority under Article 12 of Constitution of India, it does not mean that writ jurisdiction cannot be invoked against the bank, it was contended.
