Harish Textile Engineers Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/05/2025 ,inter alia, to consider and approve With reference to ....
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Harish Textile Engineers has called a board meeting on 30 May 2025 to approve its audited financial results for Q4 and FY25 (ended 31 March 2025). The board will also consider re-appointing the Secretarial Auditor and Cost Auditor for FY26. A key agenda item is the proposed slump sale of an identified business undertaking to a company owned and controlled by the promoters, which is a related party transaction requiring shareholder approval via postal ballot. Additionally, the board will consider increasing the authorised share capital and altering the Memorandum of Association. Other items include a related party transaction for the Leave & License of the registered office premises, approval of the valuation report for the slump sale, and logistical matters for the postal ballot such as e-voting platform and scrutinizer appointment.
The proposed slump sale to a promoter-owned entity is a significant corporate action that will materially change the company's business profile and warrants shareholder attention. The postal ballot on this and the share capital increase gives shareholders a direct voting opportunity, while the trading window closure signals that material price-sensitive information is forthcoming.