ICICI Bank on Thursday informed the exchanges that it has initiated recovery proceedings against Oriental Trimex for its longstanding dues of ₹6.88 crore, and asked investors to take note of the same. In December 2012, ICICI Bank had classified loans to Oriental Trimex as a non-performing asset due to default in repayment of outstanding dues. ICICI Bank filed a recovery suit before the Debt Recovery Tribunal on August 16, 2013, against the company and its guarantors Rajesh Punia and Savita Punia. The bank also filed a winding up petition before the Delhi High Court on March 11, 2014. Shares of ICICI Bank ended down 1.2 per cent down at ₹254.55 on the NSE, while those of Oriental Trimex ended down 5 per cent at ₹10.69 on the BSE.
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