Bihar Sponge Iron Ltd — Important, 03-11-2025: Company Update

Bihar Sponge Iron's writ petition challenging a penalty from SECL for short-lifting coal has been dismissed by the Chhattisgarh High Court. The penalty, amounting to Rs. 2.15 Cr, stems from a fuel supply agreement dispute. The company had filed this new petition after an earlier court directive for mutual settlement with SECL's GM did not resolve their concerns. Despite the dismissal, the company believes the matter will not have a material financial impact and is currently pursuing alternative legal recourse with its advisors to address the ongoing dispute.