Harish Textile Engineers Limited has disclosed receiving a statement of claim for Rs 97.59 lakh from M/s. Deep Industries in ongoing arbitration proceedings under the Micro, Small and Medium Enterprises Development Act, 2006. The company made this disclosure on 19th March, 2026, pursuant to Regulation 30 of the SEBI Listing Regulations.

Arbitration Claim Details

The statement of claim was received on 18th March, 2026, through the advocate of M/s. Deep Industries. The arbitration proceedings are being conducted before the Micro and Small Enterprises Facilitation Council (MSEFC) in Ahmedabad, Gujarat, under Section 18(3) of the MSMED Act 2006.

Company's Response and Legal Position

Harish Textile Engineers is currently examining the contents of the statement of claim in consultation with its legal advisors. The company has stated it will take appropriate steps in accordance with applicable laws and within prescribed timelines. The legal team is also reviewing the interest calculations as claimed by M/s. Deep Industries.

Background and Previous Disclosures

This disclosure represents a continuation of earlier intimations made by the company regarding these proceedings. Previous disclosures were made on:

• 19th April, 2024
• 10th February, 2025
• 12th March, 2025
• 12th June, 2025
• 25th July, 2025
• 06th February, 2026

Financial and Operational Impact

The company has indicated that the financial implications, if any, will be determined based on the outcome of the arbitration proceedings. The matter remains under review with legal advisors, who are examining both the claim details and the interest calculations presented by the claimant.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023. The company has provided detailed information about the arbitration proceedings as required under the regulatory framework.

Harish Textile Engineers Limited has issued a corrigendum to its Extra-ordinary General Meeting (EGM) notice, providing additional clarity on the preferential equity share issuance scheduled for shareholder approval.

EGM Corrigendum Details

The company issued the corrigendum on March 09, 2026, to its EGM notice dated February 10, 2026. The meeting is scheduled for Wednesday, March 11, 2026 at 11:00 A.M. (IST) through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The corrigendum addresses certain alterations and modifications made to the Explanatory Statement of Special Resolution pertaining to Item No. 1 of the EGM Notice, as per requirements of BSE Limited in response to the company's application for in-principle approval for preferential issue.

Preferential Issue Structure

The preferential issue involves the issuance of 21,23,800 fully paid-up equity shares with a face value of Rs. 10 each. The shares are priced at Rs. 64 per equity share, including a securities premium of Rs. 54 per share, aggregating to Rs. 13,59,23,200.

Allottee Categories and Consideration

The corrigendum specifically adds bifurcation of consideration details to the original notice. The issue includes allotments to both promoter and non-promoter categories with varying consideration modes:

Key Promoter Allottees:

• Shovan Sandeep Gandhi: 525,000 shares for Rs. 3,36,00,000 (In Cash)
• Shaiv Sandeep Gandhi: 525,000 shares for Rs. 3,36,00,000 (In Cash)
• Sandeep Kirti Gandhi: 554,600 shares for Rs. 3,54,94,400 (Allotment other than cash/issue against credit balance)

Non-Promoter Allottees: The issue includes 32 non-promoter allottees with allocations ranging from 1,500 to 105,000 shares, with most receiving consideration in cash.

Shareholding Impact

Post-preferential issue, the promoter and promoter group shareholding will increase from 48.15% to 58.97%. The total number of equity shares will increase from 33,36,000 to 54,59,800 shares.

Fund Utilization

The company intends to utilize the proceeds for multiple purposes with specific timelines:

Regulatory Compliance

The preferential issue complies with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The relevant date for price determination is February 09, 2026, being 30 days prior to the EGM date. The floor price of Rs. 64 per share is determined based on the highest of 90-day and 10-day volume weighted average prices preceding the relevant date.

The equity shares proposed for allotment will be subject to lock-in provisions as specified under Chapter V of SEBI ICDR Regulations and will be listed on BSE Limited where the company's existing shares are traded.