Harish Textile Engineers Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 10/06/2025 ,inter alia, to consider and approve With reference to ....
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Harish Textile Engineers has called a board meeting on 10 June 2025 to consider several key items. The board will look at selling a business undertaking as a slump sale (a one-time bulk transfer), subject to shareholder approval, with the buyer being a company owned and controlled by the promoters. Related party transactions linked to this sale and to a Leave & License arrangement for the registered office premises will also be considered. The board will approve the valuation report for this slump sale and seek shareholder consent via a postal ballot. Additionally, the board will re-appoint the Secretarial Auditor and Cost Auditor for FY2025-26 and appoint new Independent Directors. Audited financial results for Q4/FY25 will be announced separately at a later date.
The proposed slump sale to a promoter-owned entity is a significant related party transaction that minority shareholders should watch closely, as the price and terms will depend on the valuation report. A postal ballot means shareholders will get a direct vote on the sale. Appointment of new Independent Directors and re-appointment of auditors are routine but ensure continuity of oversight.