The National Company Law Tribunal (NCLT) in Mumbai has dismissed a creditor petition against Harish Textile Engineers Ltd following a settlement of outstanding operational dues.

The tribunal allowed the withdrawal of C.P. (IB) No. 671/2025, filed by M/s. Kamlesh Corporation under Section 9 of the Insolvency and Bankruptcy Code, 2016. The order was passed on September 1, 2026, based on consent terms agreed upon by both parties on August 19, 2026.

Settlement Details

The NCLT recorded that the outstanding amount, including further interest, has been settled pursuant to the consent terms. The settlement amount is payable in instalments as agreed between the parties, after adjusting the upfront amount received.

Legal Implications

The tribunal granted liberty to the applicant to re-agitate the matter in case of any default in complying with the consent terms. The company stated there is no further material impact on its financial or operational activities at this stage, subject to compliance with the settlement terms.

Harish Textile Engineers Limited disclosed the development on September 5, 2026, pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Harish Textile Engineers has rescheduled its upcoming pre-institution mediation proceedings to September 11, 2026. The company confirmed the new date following a joint request from both parties involved in the dispute.

The mediation is part of Pre-Institution Mediation No. 52 of 2026 before the District Legal Services Authority in CBD Belapur, Navi Mumbai. Harish Textile Engineers will face Vashi Integrated Solutions Limited in the proceedings scheduled for 3:00 pm on the rescheduled date.

This update follows previous intimations issued by the company on July 22, August 6, and August 19, 2026, regarding the ongoing legal matter. The communication was received from the advocate representing Vashi Integrated Solutions on September 4, 2026.

Regulatory Disclosure Details

The company made the disclosure pursuant to 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 July 13, 2023.

Sandeep Kirtikumar Gandhi, Managing Director of Harish Textile Engineers, signed the disclosure filed with BSE Limited. The company stated it would participate in the proceedings and take appropriate legal steps as required by applicable law.