ICICI Bank Stay Pending Rs 5 Cr Deposit

Authority: Supreme Court of India

Order Date: 18-06-2026

Case Overview

• Petition for Special Leave to Appeal (C) No. 22002/2026 filed by M/S. SAINIK KHAD BEEJ BHANDAR & ORS. against ICICI BANK LIMITED, arising from the impugned final judgment and order dated 18‑05‑2026 in WP No. 12821/2026 of the High Court of Madhya Pradesh at Gwalior.
• Petitioners argued that after filing the SLP, the Debts Recovery Tribunal, Jabalpur had commenced functioning through the Presiding Officer of the Debts Recovery Tribunal, Allahabad.
• The Court heard counsel for both parties; counsel for petitioners included Mr. Shree Prakash Sinha, Mr. Mayank Choudhary, Mr. Sameer Tiwari, Mr. Nawalendra Kumar, Mr. Rishabh Kumar, and AOR Mr. Rakesh Mishra.

Final Outcome

• The Court ordered that a notice be issued to the respondent, ICICI BANK LIMITED, returnable on 21‑07‑2026.
• Petitioners were granted four weeks to deposit a sum of Rs.50,00,000 (Rs.5 crore) before the Debts Recovery Tribunal, Jabalpur.
• Subject to the deposit, the Court directed that no coercive steps be taken by the respondent bank against the petitioners.

Topics: Debt Recovery, Banking Litigation