JUDGMENT :

Nitin Jamdar, J.

The Petitioner was working as a Managing Director with the ICICI Bank. The Petitioner was terminated from service. The Reserve Bank India communicated its approval to the termination. The Petitioner has challenged the termination order and has prayed for consequential reliefs. The Petitioner has also challenged the communication issued by the Reserve Bank.

2. The Petitioner joined the ICICI Bank on 17 April 1984 as a Management Trainee. The Petitioner was appointed as Executive Director of the ICICI with effect from 1 April 2001 to 3 March 2006. The Petitioner was reappointed as Executive Director from 1 April 2006 to 31 March 2009. In April 2006 the Petitioner was promoted as a Deputy Managing Director. The Petitioner was then promoted as Joint Managing Director in October 2007. The Petitioner was appointed as Joint Managing Director and Chief Financial Officer from 1 April 2009 to 30 April 2009. After that, as a Managing Director and Chief Executive Officer from 1 May 2009 to 31 March 2014. The Petitioner was re-appointed as a Managing Director and Chief Executive Officer for five years from 1 April 2014 to 31 March 2019. Approval for these appointments w