Demand Notice Issued to Afcons Infrastructure for Rs. 3,04,59,761.44 Plus Interest Under IBC
The company has issued a Demand Notice under the Insolvency and Bankruptcy Code, 2016 to Afcons Infrastructure Limited, claiming Rs. 3,04,59,761.44 plus interest, totalling Rs. 3,16,20,074.44 (upto 28.09.2026), over unpaid charter hire.
- Demand Notice Amount (Principal)
- Rs. 3,04,59,761.44
- Total Claim Including Interest
- Rs. 3,16,20,074.44 (upto 28.09.2026)
- Vessel Charter Period
- 75 days
- Counterparty
- Afcons Infrastructure Limited
- Dues Type
- Charter hire, catering and demobilization dues
What happened
The company has informed the exchange that it issued a Demand Notice / Invoice under the Insolvency and Bankruptcy Code, 2016, through its advocates, to Afcons Infrastructure Limited.
Background
- Afcons Infrastructure Limited entered into a Charterparty to take one of the company's vessels on charter for a period of 75 days.
- The company states Afcons has defaulted in payment of charter hire (for July 2026), catering expenses and demobilization fees, which remain long overdue.
Amounts claimed
- Outstanding amount: Rs. 3,04,59,761.44
- Plus interest, totalling Rs. 3,16,20,074.44 (upto 28.09.2026)
What it means for investors
The company is the claimant here, seeking recovery of receivables from a counterparty. A demand notice is the first step in the insolvency process; whether payment is recovered depends on how the matter proceeds. Until then, the amount remains an overdue receivable for the company.
More numbers
- Outstanding amount demandedRs. 3,04,59,761.44
- Total including interest (upto 28.09.2026)Rs.3,16,20,074.44
- Charter period75 days
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