Dharni Capital Services and its Managing Director, Hemant Dharnidharka, received a charge-sheet from the Directorate of Enforcement (ED) on August 02, 2026. The Bengaluru Zonal Office of the ED filed the document under Sections 44 and 45 of the Prevention of Money Laundering Act (PMLA), 2002, alleging that the company assisted in activities connected with the proceeds of crime. The specific allegation involves facilitating the layering and laundering of an amount of ₹12,54,00,000 and projecting or claiming these funds as untainted property.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing confirms that while the charge-sheet has been filed, no formal charges or orders have been passed by the authority at this stage. The company is currently exploring all available legal remedies to safeguard its interests and those of its directors.

Allegations and Regulatory Action

The core of the ED’s action centers on financial transactions totaling ₹12,54,00,000. The enforcement agency alleges that Dharni Capital Services facilitated the process connected with these proceeds of crime. Specifically, the charge-sheet points to actions that assisted in projecting or claiming the illicit funds as untainted property. This falls under the purview of the PMLA, which targets activities designed to disguise the illegal origin of criminal profits.

Operational Impact and Legal Stance

Despite the serious nature of the allegations, Dharni Capital Services stated that there is no immediate material impact on the financial or operational activities of the company. Management emphasized that the firm continues to operate normally and remains committed to growth and operational excellence. The company and its officials are fully committed to defending their position and reputation against the charges.

What the Numbers Show

The alleged sum of ₹12,54,00,000 represents a significant volume for a capital services firm, potentially indicating systemic exposure rather than isolated transaction errors if the allegations hold merit. However, the absence of formal charges or orders means the financial liability remains theoretical at this juncture. The market impact will likely depend on the duration of the investigation and any subsequent asset freezes or penalties, which are not yet determined. The company’s assertion of normal operations suggests that core business functions have not been disrupted by the filing itself.

Dharni Capital Services Limited has submitted multiple regulatory declarations to BSE Limited, clarifying its compliance status under various SEBI frameworks. The company has confirmed its non-applicability for certain regulatory requirements due to its SME listing status and has declared that it does not qualify as a Large Corporate under SEBI guidelines.

Large Corporate Status Declaration

On April 8, 2026, the company formally confirmed to BSE Limited that it does not qualify as a Large Corporate as on March 31, 2026, under the framework established by SEBI Circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, and SEBI/HO/DDHS/HS-RACPOD1/P/CIR/2023/172 dated October 19, 2023.

SME Listing Exemptions

The company previously declared on April 7, 2026, the non-applicability of Annual Secretarial Compliance Report under Regulation 24A of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015. As per Regulation 15(2) of the SEBI LODR Regulations, companies listed on SME exchanges are exempt from multiple compliance requirements.

Corporate Information

Dharni Capital Services Limited, formerly known as Dharni Online Services Private Limited, operates from its registered office at Oxford Towers, Old Airport Road, Kodihalli, Bangalore. The company trades on BSE SME platform and maintains its corporate compliance through designated officials.

Both declarations were signed by Company Secretary Disha Jain (Membership No: A64700) and submitted to BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai. The Large Corporate status confirmation was additionally signed by Managing Director Hemant Dharnidharka (DIN 07190229) and Chief Financial Officer Pramod Kumar Dharnidharka.