Legal5 May 2026, 04:23 pm
Bihar Sponge Iron Receives ₹1.98 Cr Demand Notice Under IBC
AI Summary
Bihar Sponge Iron Ltd has received a demand notice in Form-3 dated April 30, 2026, under the Insolvency and Bankruptcy Code, 2016, from M/s Gohil Enterprises Private Limited for an alleged unpaid operational debt of ₹1,97,94,250. The company is currently reviewing the matter and is taking legal steps. Bihar Sponge Iron clarifies that it has not acknowledged or admitted the claim and does not recognize any liability.
Key Highlights
- Bihar Sponge Iron received a demand notice for ₹1.98 Cr under IBC.
- The demand notice was issued by M/s Gohil Enterprises Private Limited.
- The company is reviewing the matter and taking legal steps.
- Bihar Sponge Iron has not acknowledged or admitted the claim.
- Disclosure is made in compliance with SEBI regulations.
Price Impact
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