1. The service of the plaintiff who was an employee of the defendant bank, as the head of its corporate division, has been terminated and the plaintiff has sued for declaration that the termination of his contract of employment is wrongful, illegal and malafide. The plaintiff has claimed Rs.23.63 Crores with interest @ 16.5% thereon for delay in payment of the amounts payable under the plaintiff's contract of employment.

2. The plaintiff was employed under the contract dated 19th June, 2000, Exh.P2 in evidence. The plaintiff's contract was terminable under clause 10 thereof either upon retirement or upon sooner determination by a termination notice upon the conditions mentioned in the said clause.

3. The plaintiff's contract was terminated after certain correspondence between the parties by e-mails on 12th February, 2001. The plaintiff was offered severance package. The plaintiff accepted the said package and confirmed having received and accepted the terms and conditions in the letter dated 12th February, 2001. The plaintiff has sued for the aforesaid declaration and