Why did King James I dismiss Sir Edward Coke from office in 1616?

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King James I dismissed Sir Edward Coke from his position as lord chief justice in 1616 due to a series of escalating conflicts regarding the supremacy of common law versus the royal prerogative.

The Privy Council formulated three specific charges against him to justify his removal:

Interference with the Court of Chancery: Coke had engaged in a dispute with the Court of Chancery over its right to nullify common-law decisions and was suspected of encouraging suitors to defy that court’s decrees.
Disrespect to the King: This charge stemmed from Coke’s refusal to obey a royal injunction regarding the king’s right to grant multiple ecclesiastical benefices simultaneously. When ordered to comply, Coke famously stated he would only do what an honest and just judge ought to do.
Irregularities in his Reports: He was ordered to revise alleged "errors" found within his influential Reports.

Additionally, Coke had previously angered the King by asserting that the monarch could not personally adjudge cases or create new offenses by proclamation.1