Tahmar Enterprises Limited has clarified the timeline regarding its disclosure of a demand notice received from Kolhapur District Central Co-operative Bank (KDCC Bank) under the SARFAESI Act. The company stated that the notice came to the knowledge of its management on July 9, 2026, following the completion of an internal routing process. It subsequently made the requisite disclosure to the stock exchange on July 10, 2026, within 24 hours of the event coming to the management's attention, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The original demand notice, dated July 1, 2026, sought payment of Rs 2440.07 Lacs. 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, though no measures under Section 13(4) regarding the enforcement of security interest have been initiated so far.

Company's Response and Legal Stand

Tahmar Enterprises does not accept the demand as raised and is actively contesting the notice. The company argues 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. It 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 is pursuing all available legal remedies to resolve the matter.

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.