Globesecure Technologies Receives Demand Notice from ICICI Bank Regarding Credit Facilities
Globesecure Technologies Limited has received a demand notice from ICICI Bank Limited concerning credit facilities availed by the company, prompting an internal review and engagement with the lender. The actions relate to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).The notice calls upon Globesecure Technologies to discharge the outstanding obligations related to the credit facilities within a prescribed period under the SARFAESI Act, or face recourse by the lender. The total amount mentioned in relation to these credit facilities is Rs. 4,97,55,360/- (Rupees Four Crores Ninety Five Lakhs, Fifty Five Thousand Three Hundred Sixty only).
Globesecure Technologies undertook an internal assessment of the notice upon receipt on May 21, 2026. The company subsequently submitted a detailed representation to ICICI Bank Limited on July 8, 2026, setting out its response and requesting appropriate consideration from the bank.
During this period, ICICI Bank Limited published a public notice regarding the SARFAESI proceedings in The Free Press Journal (Mumbai Edition) dated July 2, 2026. The company is currently pursuing both legal and commercial remedies in response to the demand notice.
As of the latest updates, Globesecure Technologies stated that its business operations continue as usual. The financial impact stemming from the demand notice cannot be accurately determined at this time, as it will depend on the outcome of ongoing discussions and subsequent legal proceedings.
Key details regarding the action taken by ICICI Bank Limited are presented below:
| Particulars | Details |
|---|---|
| Authority / Lender Name | ICICI Bank Limited |
| Nature of Action Taken | Demand Notice issued under Section 13(2) of SARFAESI Act |
| Amount of Credit Facilities | Rs. 4,97,55,360/- |
| Date of Notice Receipt by Company | May 21, 2026 |
| Lender's Public Notice Date | July 2, 2026 |
| Date of Representation to Lender | July 8, 2026 |
The matter remains under consideration by the lender. Globesecure Technologies confirmed that it will keep stakeholders informed of any further material developments.
GSTL Stock Price Movement
Shares of Globesecure Technologies Limited shed value in post-market trading today, with the stock slipping 3.73% to settle at ₹15.50. The equity traded within a range of ₹15.30 to ₹16.90 during the session, seeing a total volume of 16,000 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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