Bihar Sponge Iron Limited has filed a criminal complaint against Vanraj Steels Private Limited for the dishonour of cheques aggregating ₹38 crore. The company approached the court of Sub-Divisional Judicial Magistrate in Chandil, Jharkhand, to address the outstanding liability.

The complaint, registered as Case No. 614 of 2026, was filed under Section 138 read with Section 142 of the Negotiable Instruments Act, 1881. The cheques were issued by Vanraj Steels and others in discharge of their financial obligations towards Bihar Sponge Iron.

Legal Proceedings Initiated

The company disclosed this development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing highlights a significant default by a counterparty, impacting the company's receivables position.

Implications for Receivables

The dishonour of cheques worth ₹38 crore represents a substantial portion of the company's expected cash inflows. This event underscores credit risk exposure and may necessitate higher provisioning for doubtful debts in upcoming financial statements. The legal action aims to recover these dues through statutory penalties.

Bihar Sponge Iron Limited has scheduled its 44th Annual General Meeting (AGM) for Monday, September 28, 2026. The meeting will commence at 3:30 pm and be conducted exclusively via video conferencing or other audio-visual means.

Meeting Details

The company published the notice regarding the AGM in the Financial Express and Naya India newspapers on September 1, 2026. The deemed venue is the registered office in Chandil, Jharkhand. Shareholders must attend remotely as physical presence is not permitted.

The Board has included specific business items for shareholder approval at the meeting.

Important Dates and Book Closure

Pursuant to Section 91 of the Companies Act, 2013, and Regulation 42 of the SEBI (LODR) Regulations, 2015, the Register of Members and Share Transfer Books will remain closed from Tuesday, September 22, 2026, to Monday, September 28, 2026 (both days inclusive). This closure is for taking record of members eligible for the AGM.

Key dates related to the meeting include:

• Cut-off date for e-voting: Monday, September 21, 2026
• E-voting period: Friday, September 25, 2026, at 9:00 am to Sunday, September 27, 2026, at 5:00 pm
• AGM Date and Time: Monday, September 28, 2026, at 3:30 pm (IST) via VC/OAVM

Voting and Documentation

The Notice of the AGM along with the Annual Report for FY26 will be sent electronically to members who have registered their email addresses with the Registrar and Transfer Agent, Beetal Financial & Computer Services Pvt Ltd, or their Depository Participants. These documents are also available on the company’s website and the BSE Limited website.

In accordance with Regulation 36(1)(b) of the SEBI (LODR) Regulations, 2015, an inland letter containing the web-link for accessing the notice and Annual Report, along with a request to complete KYC, will be sent to physical shareholders and those without registered email IDs.

Members can cast their votes through an electronic voting system. Remote e-voting will be available prior to the meeting, while an Insta Poll facility will be provided during the AGM for those who have not voted remotely. Members holding shares in physical form are requested to update their email addresses by submitting Form ISR-1, Form ISR-2, and Form No. SH-13 to the RTA. Those holding shares in demat form should update their details directly with their Depository Participants.

Compliance

The AGM is being convened in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Vimal Prasad Gupta, Company Secretary and Compliance Officer, signed the disclosure filed with BSE Limited on September 3, 2026.