Tahmar Enterprises Limited has received a demand notice from Kolhapur District Central Co-operative Bank (KDCC Bank) seeking payment of Rs 2440.07 Lacs under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The notice, dated July 1, 2026, was received by the company on July 8, 2026, and demands the amount within sixty days. This development poses a potential financial liability for the company as it addresses the claim related to a mortgage deed executed in October 2024.

The demand is linked to a deed of mortgage dated October 17, 2024, registered at sr. no. 4901/24, which created securities on a piece of land identified as Gat no. 990/1 situated at Bhadgaon, Gadinglaj, Kolhapur. The notice was issued under Section 13(2) of the SARFAESI Act. However, the company clarified that no measures under Section 13(4) of the Act, which pertains to the enforcement of security interest, have been initiated so far.

Company's Response and Legal Stand

Tahmar Enterprises stated that it does not accept the demand as raised and is actively contesting the notice. The company's argument is based on the premise that the bank's action is not in accordance with the framework for revival and rehabilitation of micro, small and medium enterprises (MSME) applicable to its account. The company asserts that such frameworks must be followed before an eligible enterprise's account is classified as non-performing and enforcement measures are initiated.

The company has indicated that it is pursuing all available legal remedies to resolve the matter. It further stated that it is taking appropriate steps to address the issue and will keep the stock exchange informed of any material developments arising from this dispute.

Key Details of the Demand Notice

Tahmar Enterprises Limited launched the Tahmar Energy Platform on 9 July 2026, entering the renewable energy sector through a new business division. The platform introduces a programme of co-operative solar societies proposed for registration in Maharashtra. Under this model, consumers enrolled as members own identified solar generating capacity in offsite, society-operated solar farms, with generation benefits set off against their electricity consumption.

The company operates the platform as a distinct division and has engaged Axel Renewables Corp LLP and other service providers on arm’s-length commercial terms. The disclosure confirms that none of these parties are related parties within the meaning of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The new business line falls within the existing objects of the company’s Memorandum of Association, requiring no amendments.

The rationale for this strategic expansion includes monetising the company’s existing land and developing further green-energy initiatives. While the company stated that cash outflow and investment are not presently determinable or expected to be material, it committed to making disclosures if the situation changes. The geographical focus is exclusively within India, specifically the State of Maharashtra.

Timeline and Approvals

The initial solar farm is presently targeted for completion by the last quarter of calendar year 2026. Further capacity development and energisation will proceed in a phased manner thereafter. Commencement of generation is contingent upon several factors, including the registration of the co-operative solar societies and the receipt of applicable open access, connectivity, and metering approvals.

Business Details

The company noted that statements regarding future plans and timelines are forward-looking and subject to regulatory approvals and other factors beyond its control. Tahmar Enterprises will make further disclosures upon material developments.