We present preliminary results of the study of three large long-duration flares detected on the active M-dwarf binary EQ~Peg using the Soft X-ray Telescope of the AstroSat observatory. The peak X-ray luminosities of the flares in the 0.3--7 keV band are found to be $\sim$4--10~$\times~10^{30}$ erg s$^{-1}$. Spectral analysis indicates that the corona of EQ~Peg has three dominant temperatures, with the first two plasma temperatures remaining constant during all the flares and the post-flare observation at $\sim$3 and $\sim$11~MK. The flare temperature peaked at 56, 40, and 31~MK, which are 2.5, 1.8, and 1.4 times the minimum value. The peak emission measures are found to be 1.16--5.64~$\times~10^{53}$~cm$^{-3}$, whereas the elemental abundances peaked at 0.7--1.2 times the solar abundances. Using quasi-static loop modeling, we estimated the loop lengths for all the flares to be on the order of $10^{11}$~cm. The estimated energies of all three flares are $>10^{33-35}$~erg, which put them in the category of superflare. Our study indicates that all three flares on EQ~Peg are associated with coronal mass ejections (CMEs). We estimated the CME mass and outward velocity of the CME mass are on the order of $10^{19}$~g and $\sim$5800--6500~km~s$^{-1}$, respectively. All three superflares are also found to be the longest duration flares ever observed on EQ~Peg., {"references":["Aarnio, A. N., Matt, S. P., & Stassun, K. G. 2012, ApJ, 760, 9.","Anders, E. & Grevesse, N. 1989, Geochimica Cosmochim- ica Acta, 53, 197.","Arnaud, K. A. 1996, In Astronomical Data Analysis Software and Systems V, edited by G. H. Jacoby & J. Barnes, Astro- nomical Society of the Pacific Conference Series, vol. 101, p. 17.","Bailer-Jones, C. A. L., Rybizki, J., Fouesneau, M., Mantelet, G., & Andrae, R. 2018, AJ, 156, 58.","Drake, J. J., Cohen, O., Yashiro, S., & Gopalswamy, N. 2013, ApJ, 764, 170.","Favata, F., Reale, F., Micela, G., Sciortino, S., Maggio, A., et al. 2000, A&A, 353, 987.","Fleming, T. A., Giampapa, M. S., Schmitt, J. H. M. M., & Book- binder, J. A. 1993, ApJ, 410, 387.","Haisch, B. M., Butler, C. J., Doyle, J. G., & Rodono, M. 1987, A&A, 181, 96.","Karmakar S. et al., 2016, MNRAS, 459, 3112","Karmakar, S., Pandey, J. C., Airapetian, V. S., & Misra, K. 2017, ApJ, 840, 102.","Karmakar, S., Rajpurohit, A. S., Allard, F., & Homeier, D. 2020, MNRAS, 498, 737.","Katsova, M. M., Livshits, M. A., & Schmitt, J. H. M. M. 2002, In Stellar Coronae in the Chandra and XMM-NEWTON Era, edited by F. Favata & J. J. Drake, Astronomical Society of the Pacific Conference Series, vol. 277, p. 515.","Lacy, C. H., Moffett, T. J., & Evans, D. S. 1976, ApJS, 30, 85.","Liefke, C., Ness, J.-U., Schmitt, J. H. M. M., & Maggio, A. 2008, A&A, 491, 859.","Morin, J., Donati, J.-F., Petit, P., Delfosse, X., Forveille, T., et al. 2008, MNRAS, 390, 567.","Morrison, R. & McCammon, D. 1983, ApJ, 270, 119.","Norton, A. J., Wheatley, P. J., West, R. G., Haswell, C. A., Street, R. A., et al. 2007, A&A, 467, 785","Pallavicini, R., Kundu, M. R., & Jackson, P. D. 1986, EXOSAT Detection of a Very Large Flare on EQ Peg, vol. 254, p. 225.","Pallavicini, R., Tagliaferri, G., & Stella, L. 1990, A&A, 228, 403.","Parsamyan, E. S. 1995, Astrophysics, 38, 206.","Pettersen, B. R. 1976, Institute of Theoretical Astrophysics Blindern Oslo Reports, 46, 1.","Pizzolato, N., Maggio, A., Micela, G., Sciortino, S., & Ventura, P. 2003, A&A, 397, 147.","Robrade, J., Ness, J. U., & Schmitt, J. H. M. M. 2004, A&A, 413, 317.","Robrade, J. & Schmitt, J. H. M. M. 2005, A&A, 435, 1073.","Schaefer, B. E., King, J. R., & Deliyannis, C. P. 2000, ApJ, 529, 1026.","Schmitt, J. H. M. M., Reale, F., Liefke, C., Wolter, U., Fuhrmeister, B., et al. 2008, A&A, 481, 799.","Shibayama, T., Maehara, H., Notsu, S., Notsu, Y., Nagao, T., et al. 2013, ApJS, 209, 5","Singh, K. P., Stewart, G. C., Westergaard, N. J., Bhat- tacharayya, S., Chandra, S., et al. 2017, Journal of Astro- physics and Astronomy, 38, 29.","Smith, R. K., Brickhouse, N. S., Liedahl, D. A., & Raymond, J. C. 2001, ApJL, 556, L91.","Tsuboi, Y., Imanishi, K., Koyama, K., Grosso, N., & Mont- merle, T. 2000, ApJ, 532, 1089.","Tu, Z.-L., Yang, M., Zhang, Z. J., & Wang, F. Y. 2020, ApJ, 890, 46.","van den Oord, G. H. J. & Mewe, R. 1989, A&A, 213, 245."]}