Announced Fri, 17 Jul · 16:22 IST
IBC demand notice received from coal supplier for Rs 4.31 crore
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Price
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Price reaction · full curve 14 horizons · vs prior close
-4.9%1-day move
₹39.96
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AI summary
Keerthi Industries received a Form 3 demand notice under the Insolvency and Bankruptcy Code 2016 from coal supplier J P Associates claiming unpaid operational debt of Rs 4.31 crore (principal Rs 3.34 crore, interest Rs 97.18 lakh). The company is reviewing the notice with legal counsel and expects to resolve it amicably within statutory timelines. It states there is no material impact on operations or financial position.
Likely market impact
Form 3 notice is a pre-step before insolvency proceedings. Company says impact is not material, but resolution outcome remains to be seen.