Bihar Sponge Iron Ltd. Receives Demand Notice for Alleged Operational Debt
On April 14, 2026, Bihar Sponge Iron Ltd. announced that it has received a Demand Notice under The Insolvency and Bankruptcy Code, 2016. The notice was issued by M/s Agarwal Coal Corporation Private Limited regarding an alleged unpaid operational debt.The claim pertains to a total amount of Rs. 16,91,99,617/- (Rupees Sixteen Crore Ninety One Lakh Ninety Nine Thousand Six Hundred Seventeen Only).
In reviewing the matter, the company reported that the issue is currently under review. Bihar Sponge Iron Ltd. stated that it is in the process of taking legal steps regarding this demand.
The company also clarified its formal position regarding the claim. Bihar Sponge Iron Ltd. stated that it has neither acknowledged nor admitted the said claim, nor has it recognized any liability in respect of the amount.
Claim Details:
| Aspect | Detail |
|---|---|
| Claimant | M/s Agarwal Coal Corporation Private Limited |
| Nature of Claim | Alleged unpaid operational debt |
| Claimed Amount | Rs. 16,91,99,617/- |
| Regulatory Basis | The Insolvency and Bankruptcy Code, 2016 |
The company provided this update regarding the matter of the alleged debt on April 14, 2026.
Stock Price Movement
At the close of trade on Monday, shares of Bihar Sponge Iron Ltd. finished higher, settling at ₹14.29, representing a 3.55% gain for the day. Throughout the trading session, the stock saw significant movement, operating across an intraday range between ₹13.11 and ₹14.36.Source:
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