Harish Textile Engineers Limited (HTEL), a Mumbai-based company, finds itself embroiled in a legal matter concerning a dishonored cheque. The company, along with its directors and key managerial personnel, has received a summons from the Judicial Magistrate (First Class) in Vikhroli, Mumbai, regarding a case filed under the Negotiable Instruments Act.

Case Details

The legal action stems from a dishonored cheque amounting to Rs. 11.72 lakh, which was issued as partial payment for outstanding dues totaling Rs. 22.42 lakh, plus interest. These dues are related to goods sold between August and November 2023.

Legal Proceedings

The case has been filed under Section 138 read with Section 141 of the Negotiable Instruments Act, 1881. The summons, dated October 14, 2025, was received by the company on November 4, 2025.

Company's Response

HTEL has stated that it is currently evaluating the matter in consultation with its legal advisors. The company plans to submit an appropriate legal response within the prescribed timelines. At this stage, HTEL does not anticipate any material impact on its operations or financial position.

Disclosure and Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, HTEL has made a disclosure to the BSE Limited. The company has provided the following details as required by SEBI:

As the legal proceedings unfold, stakeholders and investors of Harish Textile Engineers Limited will be keenly watching for any developments that may affect the company's financial standing or operational capabilities.

Harish Textile Engineers has announced several important corporate decisions following its Board of Directors meeting held on September 4. The company has scheduled its 15th Annual General Meeting (AGM) for September 30, to be conducted virtually through video conferencing.

Key Highlights

• Annual General Meeting: The 15th AGM is set for September 30, at 11:00 AM IST via video conferencing.
• Director Re-appointment: Mr. Sandeep Kirtikumar Gandhi, Managing Director, will seek re-appointment at the AGM after retiring by rotation.
• Secretarial Auditor Appointment: M/s. D N Vora & Associates appointed as Secretarial Auditors for five consecutive years.
• E-voting Period: Shareholders can cast their votes electronically from September 25 (9:00 AM) to September 29 (5:00 PM).
• Book Closure: Share transfer books will remain closed from September 24 to September 30.

Corporate Governance Measures

The Board has approved several resolutions that will be presented for shareholder approval at the upcoming AGM:

1. Ratification of Cost Auditor remuneration.
2. Approval of material related party transactions.
3. Proposal for approval of the company's borrowing powers.

Secretarial Auditor Appointment Details

The appointment of M/s. D N Vora & Associates as Secretarial Auditors is a significant move towards ensuring compliance with regulatory requirements. Key details include:

• Auditor: CS Dipali Vora, Proprietor of M/s. D N Vora & Associates
• Term: Five years
• Qualifications: Associate Member of The Institute of Company Secretaries of India (ICSI)
• Experience: Proficient in company law, SEBI regulations, and various business laws

AGM Participation and Voting

Shareholders should note the following important dates:

• Cut-off Date: September 23 (for e-voting eligibility and AGM participation)
• E-voting Period: September 25 (9:00 AM) to September 29 (5:00 PM)
• AGM Date: September 30 at 11:00 AM IST

The company has appointed National Securities Depository Limited (NSDL) to facilitate the virtual AGM proceedings, ensuring compliance with regulatory guidelines.

Harish Textile Engineers continues to adapt to the evolving corporate landscape, embracing digital solutions for shareholder engagement while maintaining robust governance practices.