Harish Textile Engineers settles ₹3.1L dispute amicably

1 min read Updated on 27 Jun 2026, 10:20 AM

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Riya DScanX News Team

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Harish Textile Engineers has amicably settled a dispute with Makharia Machineries Pvt. Ltd. regarding a claim of ₹3,10,814, comprising principal and interest. The company received confirmation of the settlement on June 26, 2026, leading to the withdrawal of the pre-institution mediation proceedings initiated under the Commercial Courts Act, 2015.

*this image is generated using AI for illustrative purposes only.

Harish Textile Engineers has amicably settled the dispute with Makharia Machineries Pvt. Ltd. regarding a claim of ₹3,10,814. The company received a communication dated June 25, 2026, from the advocate representing the claimant, confirming receipt of the claimed amount towards full and final settlement. The matter, which was previously under pre-institution mediation, has been withdrawn and closed.

The settlement resolves the claim comprising a principal of ₹2,62,492 and an interest component of ₹48,322. The company stated that the dispute has been settled between the parties and that no further claim shall be made by Makharia Machineries Pvt. Ltd. in respect of the aforesaid amount. Consequently, the matter stands resolved with no further financial, operational, or other impact on the company.

The earlier notice for pre-institution mediation was received from the Mumbai District Legal Services Authority on June 22, 2026. The company had previously asserted that the principal amount was paid and was awaiting confirmation. The recent communication confirms the receipt of funds and the closure of the proceedings.

The disclosure was made to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Sandeep Gandhi, Managing Director of Harish Textile Engineers.

Details of the Settlement

Particulars	Details
Claimant	Makharia Machineries Pvt. Ltd.
Total Claim Amount	₹3,10,814
Principal Amount Claimed	₹2,62,492
Interest Claimed	₹48,322
Date of Settlement Communication	June 25, 2026
Date of Receipt by Company	June 26, 2026
Status	Matter resolved and closed

Historical Stock Returns for Harish Textile Engineers

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.87%	+3.53%	+6.51%	+6.41%	+10.91%	+128.29%

Will this settlement impact Harish Textile Engineers' cash flow or financial reserves in the upcoming quarter?

Does the resolution of this dispute indicate a shift in the company's approach to handling legal claims?

Could this settlement set a precedent for resolving similar disputes with other vendors or partners?

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Harish Textile Engineers receives reheard opportunity for AY 2021-22

2 min read Updated on 18 Jun 2026, 04:31 PM

Reviewed by

Jubin VScanX News Team

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Harish Textile Engineers Limited received a Section 129 notice on June 17, 2026, offering a rehearing opportunity for Assessment Year 2021-22 due to a change in the Assessing Officer. The company confirmed no fresh allegations or financial impact, noting it has already replied to the tax department.

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Harish Textile Engineers Limited has received an opportunity to be reheard under Section 129 of the Income-tax Act, 1961 for Assessment Year 2021-22 following a change in the concerned Assessing Officer. The communication, dated June 16, 2026, was received by the company on June 17, 2026, via email from the Office of the Assistant Commissioner of Income Tax, Circle 2(1)(1), Mumbai. The notice is procedural in nature and does not impose any fresh demand, penalty, or adverse direction against the company.

The development is a continuation of the disclosure made on March 31, 2026, regarding a notice received under Section 148A(1) of the Income-tax Act, 1961. The company stated that the latest communication does not contain any new allegations or violations. It relates solely to the pending proceedings under Section 148A for Assessment Year 2021-22.

harish textile engineers has already filed its reply to the Income Tax Department regarding the notice issued in March 2026. The company confirmed that it has also responded to this fresh communication within the stipulated timeline provided by the authority.

According to the disclosure made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the financial impact of this communication is not currently ascertainable. The company emphasized that the notice is procedural and does not carry any monetary implications at this stage.

The following table details the specifics of the communication and the company's response:

Sr. No.	Particulars	Details
1	Name of Authority	Income Tax Department, Office of the Assistant Commissioner of Income Tax, Circle 2(1)(1), Mumbai
2	Nature and details of the action(s) taken, or order(s) passed	Communication issued under Section 129 of the Income-tax Act, 1961 granting the Company an opportunity of being reheard consequent to change in the incumbent Assessing Officer in proceedings pending under Section 148A of the Income-tax Act, 1961 for Assessment Year 2021-22.
3	Date of receipt of direction or order	June 17, 2026
4	Details of the violation(s)/contravention(s) committed or alleged to be committed	No fresh violation or contravention has been alleged. The communication relates to the proceedings under Section 148A of the Income-tax Act, 1961 which were earlier disclosed by the Company vide its intimation dated March 31, 2026.
5	Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible	At present, no financial impact is ascertainable as the communication is procedural in nature and does not impose any demand, penalty or adverse direction upon the Company.
6	Remark	The Company has already filed its reply with the Income Tax Department.