Keerthi Industries faces Rs 4.31 Cr demand notice from J P Associates
Keerthi Industries received a demand notice of ₹4.31 crore from J P Associates for unpaid operational debt under the Insolvency and Bankruptcy Code, 2016. The claim includes a principal of ₹3.34 crore and interest of ₹0.97 crore. The company is reviewing the notice with legal counsel and expects to resolve the matter amicably without material impact.
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Keerthi Industries Limited has received a demand notice of ₹4.31 crore from J P Associates regarding unpaid operational debt under the Insolvency and Bankruptcy Code, 2016. The notice, received on July 16, 2026, claims a principal amount of ₹3.33 crore along with interest of ₹0.97 crore. The company stated that it is currently reviewing the notice in consultation with legal counsels to evaluate the claims raised.
The debt relates to the supply of coal, where J P Associates acts as a regular supplier for the company. Keerthi Industries has indicated that it expects to resolve and settle the matter amicably within the statutory timelines. Management further stated that it does not anticipate any material impact on the company's operations or its financial position as a result of this notice.
Details of the Demand Notice
The disclosure was made to the BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The following table outlines the key particulars of the demand notice as per Schedule III of the Listing Regulations.
| S. No. | Particulars | Details |
|---|---|---|
| 01. | Name of the Creditor | J P Associates |
| 02. | Total amount involved / claimed | ₹4,31,09,759 (Principal- ₹3,33,91,437 and Interest- ₹97,18,322) |
| 03. | Date of receipt of the notice | July 16, 2026 |
| 04. | Nature of the debt | Operational Debt related to supply of Coal |
| 05. | Brief details of dispute/ litigation | Demand notice (Form 3) demanding payment in respect of the unpaid operational debt under Insolvency and Bankruptcy Code, 2016 |
| 06. | Impact on financial, operation or other activities | There is no financial impact on the operations or other activities of the Company. |
The company confirmed that there is no financial impact on its operations or other activities at this stage. The Managing Director, Seshagiri Rao Jasti, signed the disclosure submitted to the exchange.
Historical Stock Returns for Keerthi Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.88% | +0.13% | -1.81% | -36.41% | -48.65% | -74.46% |
What are the potential implications for Keerthi Industries' coal supply chain if the dispute with J P Associates escalates?
How might this legal challenge affect the company's ability to secure credit from other suppliers or lenders?
Could the involvement of the Insolvency and Bankruptcy Code signal deeper liquidity issues within Keerthi Industries?
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