Revised disclosure of demand notice received under IBC Code, 2016.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bihar Sponge Iron Limited has disclosed receiving a Demand Notice under the Insolvency and Bankruptcy Code, 2016 from M/s Gohel Enterprises Private Limited. The notice claims an unpaid operational debt of Rs. 1,97,94,250 (approximately Rs. 1.98 crore). The company has clarified that it has neither acknowledged nor admitted the claim and has not recognized any liability. The matter is currently under review and the company is taking legal steps to address the notice. This disclosure is made under Regulation 30 of SEBI (LODR) Regulations, 2015 due to the materiality of the amount involved.
The demand notice signals a potential creditor action under IBC, but the company's explicit non-admission reduces immediate concern. However, shareholders should monitor if the claim progresses to NCLT admission, as this could lead to formal insolvency proceedings.