Dharni Capital Services clarified on August 04, 2026, that the allegations in the Directorate of Enforcement (ED) charge-sheet pertain specifically to transactions occurring between May 1, 2021, and April 30, 2022. The Bengaluru Zonal Office of the ED had previously filed a charge-sheet under Sections 44 and 45 of the Prevention of Money Laundering Act (PMLA), 2002, alleging that the company and its Managing Director, Hemant Dharnidharka, assisted in laundering ₹12,54,00,000. This addendum to the initial disclosure provides critical temporal context for the investigation, limiting the scope of scrutiny to a specific 12-month period rather than ongoing operations.

The clarification was submitted pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. By defining the relevant period as May 1, 2021, to April 30, 2022, Dharni Capital Services aims to isolate the alleged misconduct from its current business activities. The company reiterated that no formal charges or orders have been passed by the authority at this stage. Management continues to explore all available legal remedies to safeguard its interests.

Scope of Allegations

The core of the ED’s action involves financial transactions totaling ₹12,54,00,000. The enforcement agency alleges that Dharni Capital Services facilitated the layering and laundering of these funds, projecting them as untainted property. The new disclosure confirms that these specific transactions are confined to the fiscal year ending April 2022. This distinction is material for investors assessing potential liability, as it suggests the alleged violations are historical rather than indicative of current systemic risk.

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 confinement of the alleged ₹12,54,00,000 transaction volume to the May 2021–April 2022 period allows for a more precise assessment of risk. If the allegations hold merit, they represent a discrete episode rather than a continuous pattern of conduct extending into FY26. 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.