Bihar Sponge Iron Ltd. to Pursue Legal Recourse Over Rs. 215.28 Lacs Dispute with South Eastern Coal Fields Ltd.

Bihar Sponge Iron Ltd. has announced that it will pursue legal recourse over a dispute with South Eastern Coal Fields Ltd. (SECL) amounting to Rs. 215.28 Lacs. The dispute, which is over short lifting of coal quantity in terms of the Fuel Supply Agreement (FSA), has been ongoing since FY 2011-12. The company had previously filed a writ petition before the Hon’ble High Court of Chattisgarh, Bilaspur, which directed both parties to appear before the General Manager (Marketing & Sales), SECL, Bilaspur (C.G.) to decide mutually preferable within 60 days. However, as the GM- S&M, SECL, Bilaspur did not address the concern raised by the Company, it has decided to challenge the order/decision of SECL before the Hon’ble High Court. The Company has declared that the information and details provided in ‘Annexure-I’ are true, correct and complete to the best of their knowledge and belief.