Harish Textile Engineers Ltd

Mediation update with DLSA Belapur

• Mediation with Vashi Integrated Solutions Limited rescheduled to 3 September 2026 at 12:00 PM before the Learned Mediator.
• Company to be present and participate in mediation on the rescheduled date.
• No quantifiable financial impact reported from this mediation update.

Mediation update

• Communication dated 18 August 2026 informs mediation date reset to 03 September 2026.
• Company requested the rescheduling; Advocate for Vashi Integrated Solutions Limited involved.
• Company to appear before the Learned Mediator on 03 September 2026 at 12:00 PM.
• Proceedings are under Pre-Institution Mediation No. 52 of 2026; Commercial Courts Act Section 12A.
• No quantifiable financial impact disclosed at this stage.
• This updates earlier intimation dated 22 July 2026 and 06 August 2026.
• Company will participate and take appropriate legal steps as per law.

GST matter closure

• Authority: Goods and Services Tax Department, Office of the Assistant Commissioner, State Tax Unit 74, Vapi, Gujarat.
• Matter: resolution of FY2022-23 GST dispute on excess ITC.
• Amount: Rs 1,93,340 payable incl. tax, interest and penalty.
• Payment: acknowledged via Form GST DRC-04 on 10 August 2026.
• Impact: no material impact on operations; matter settled with no further action.

Meeting Details

• Date, time, and location not disclosed in this chunk.

Key Agenda Items

• No agenda items disclosed in the chunk.

Other Notes

• No material notes disclosed; no trading window information provided.

Debenture Holders Meeting Outcome

• Debenture Holders Meeting held virtually on 06 August 2026 to discuss delay/default in 7% NCDs.
• Company addressed the Debenture Trustee and holders with clarifications; mutual internal discussions planned to reach an amicable solution.
• No final resolution was announced; further material developments will be informed to BSE.

Subject of update

• Mediation application for Pre-Institution Mediation No. 52 of 2026 received.

Parties and basis

• Counterparty: Vashi Integrated Solutions Limited; mediation under Section 12A of the Commercial Courts Act, 2015.

Directions and date

• Company, Directors, and CFO directed to appear on 17 Aug 2026 at 12:00 Noon.

Regulatory context

• Regulatory disclosure under Regulation 30; no material financial impact disclosed yet.

Financial impact

• No quantifiable financial impact reported; company to participate and take legal steps.

Receipt details

• Communication dated 04 August 2026 received 06 August 2026.

NCD default update

• Interest paid through 30 June 2026; principal ₹2.1151 crore unpaid.
• Outstanding principal ₹2.1151 crore; interest accrues from 01 July 2026.
• NCDs: 7% Old Series III and Series IV; issued 21 Sep 2022; 3-year tenure.
• Total debt issued ₹4.232 crore; total indebtedness ₹30.25 crore.
• Redemption delays due to financial constraints; Debenture Trustee engaging with holders.
• Company intends to arrange funds; will inform exchange of material developments.
• Disclosure attached in Annexure I dated 31 July 2026.

Regulatory notice details

• CGST DRC-01A notice for FY 2022-23 alleging ITC shortfall of Rs 1,93,340.
• Proposed interest Rs 1,31,959 and penalty Rs 29,001 under CGST provisions.
• Notice is a scrutiny inquiry; no demand or adverse order issued.

Status and company response

• No financial impact determined yet as the notice seeks clarification.
• Company to submit detailed reply with supporting documents within timeline.

GST Scrutiny Notice

• Notice under CGST Act for FY2022-23 cites short tax payment and ITC excess Rs 9,09,220.
• Proposed interest Rs 6,20,561 and penalties Rs 10,92,284; no demand yet.
• Notice received on 16 July 2026; company to respond with supporting documents.
• No financial impact identified yet; notice is a scrutiny inquiry, not a demand.
• Period under scrutiny: April 2022 – March 2023.
• Authority: Assistant Commissioner of State Tax, Unit 74, Vapi, Gujarat.
• Disclosure filed under Regulation 30; Annexure-A details attached.
• No governance or management changes reported.
• Company will submit reply within prescribed timeline.