 "ICICI Bank")
The Madras High Court has allowed ICICI Bank to recover Rs 221 crore from Subhiksha Trading Services Ltd, the retail chain which was shut in 2008, and its guarantors, including its promoter R Subramanian.
Today's order, passed by the Chief Justice of Madras High Court, Justice Vijay Kailash Tahilramani and Justice M Duraiswamy, comes in response to a revision petition filed by Subramanian, managing director, Subhiksha Trading against Debt Recovery Appellate Tribunal (DRAT's) order which allowed the bank to recover Rs 221 crore, from Subhiksha and its guarantors.
Confirming the order, V Suresh, counsel for ICICI Bank said
Today's order, passed by the Chief Justice of Madras High Court, Justice Vijay Kailash Tahilramani and Justice M Duraiswamy, comes in response to a revision petition filed by Subramanian, managing director, Subhiksha Trading against Debt Recovery Appellate Tribunal (DRAT's) order which allowed the bank to recover Rs 221 crore, from Subhiksha and its guarantors.
Confirming the order, V Suresh, counsel for ICICI Bank said
