The Bombay High Court has quashed criminal proceedings against former ICICI Bank CEO and MD Chanda Kochhar, former Deputy MD Dr. Nachiket Mor, legal department member Vasudeo Kulkarni, and Pune branch manager Asavari Patankar in a case alleging evasion of octroi on gold bullion imports into Pune city limits. The complaint against ICICI Bank, however, will proceed before the Judicial Magistrate First Class (JMFC), Pune.

Octroi is a local tax levied by municipal corporations on goods brought into city limits for use, consumption, or sale. Under the Bombay Provincial Municipal Corporation (BPMC) Act, 1949, failure to pay octroi attracts penalties under Section 398, while Section 401 provides for vicarious liability of company officials if they are shown to be responsible for the offence.

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