Legal1 Aug 2026, 10:10 pm
Sri Chakra Cement Receives ₹2.9 Cr Demand Notice from Supplier
AI Summary
Sri Chakra Cement Ltd has received a demand notice (Form 4) under the Insolvency and Bankruptcy Code, 2016, from Ushodaya Enterprises, a coal supplier. The notice demands payment of ₹2,90,69,041 plus applicable MSME interest for unpaid operational debt. The company is reviewing the notice with legal counsel and evaluating the claims. Sri Chakra Cement expects to resolve the matter amicably within statutory timelines and does not anticipate any material impact on its operations or financial position.
Key Highlights
- Received demand notice for ₹2.9 Cr operational debt from coal supplier.
- Notice issued under Insolvency and Bankruptcy Code, 2016.
- Company is reviewing with legal counsel and evaluating claims.
- Expects amicable resolution with no material financial impact.
Price Impact
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