Disclosure regarding filing of Writ petition in the matter of SECL
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Bihar Sponge Iron has filed a new Writ Petition (WPC/24721 of 2025) before the High Court of Chhattisgarh against South Eastern Coalfields Ltd (SECL). The dispute relates to a penalty of Rs. 215.28 Lacs imposed by SECL on the company for short lifting of coal under a Fuel Supply Agreement during FY 2011-12. The earlier writ petition was disposed of by the High Court, which directed both parties to attempt a mutual settlement before SECL's General Manager (Marketing & Sales). A settlement meeting was held on 21st April 2025, but SECL did not resolve the company's concerns, prompting it to file fresh legal proceedings. The company has stated that given the size of its operations, the matter is not expected to have a material financial impact.
Shareholders should note that while the disputed amount of Rs. 215.28 Lacs is small relative to the company's size, the unresolved coal supply dispute adds to legal uncertainty. The stock is unlikely to see significant movement solely on this update.