Sri Chakra Cement receives IBC demand notice for ₹2.91 Cr
Sri Chakra Cement Limited disclosed receiving a Form 4 demand notice from Ushodaya Enterprises for Rs. 2,90,69,041 regarding unpaid coal supply debt. The company, governed by the Insolvency and Bankruptcy Code, 2016, is reviewing the claim with legal counsel. It anticipates an amicable settlement within statutory timelines and denies any further material impact on its operations or financial health.
*this image is generated using AI for illustrative purposes only.
Sri Chakra Cement Limited has received a demand notice for Rs. 2,90,69,041 from coal supplier Ushodaya Enterprises under the Insolvency and Bankruptcy Code, 2016. The notice, received on August 1, 2026, pertains to unpaid operational debt related to coal supply and includes interest as applicable to MSME units. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company stated that it is currently reviewing the notice in consultation with its legal counsels and is evaluating the claims raised. Sri Chakra Cement expects to resolve and settle the matter amicably within statutory timelines. Management does not anticipate any additional material impact on its operations or financial position arising from this demand.
Claim Details
| Particulars | Details |
|---|---|
| Creditor Name | Ushodaya Enterprises |
| Total Amount Claimed | Rs. 2,90,69,041 plus interest as applicable to MSME units |
| Nature of Debt | Operational Debt related to supply of Coal |
| Date of Receipt | August 1, 2026 |
The demand notice is filed as Form 4 under the IBC framework. The company confirmed that there is no additional financial impact on its operations or other activities beyond the claimed amount. The matter remains under review as the company assesses the validity and specifics of the debt claim raised by the supplier.
Historical Stock Returns for Sri Chakra Cement Limited
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.71% | +6.75% | -18.77% | -41.53% | -42.83% | +949.84% |
How might this IBC demand notice affect Sri Chakra Cement's credit ratings or future borrowing costs from financial institutions?
Could this dispute with Ushodaya Enterprises signal broader supply chain vulnerabilities or payment delays for other MSME vendors?
What is the likelihood of Sri Chakra Cement successfully settling the claim amicably versus facing prolonged legal proceedings under the IBC framework?
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