In terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors ....
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The Board of Directors of Harish Textile Engineers Limited, at its meeting on October 7, 2025, informed the stock exchange that the Company has been unable to redeem its 7% Secured, Unlisted, Unrated, Redeemable Non-Convertible Debentures (Old Series-III) amounting to Rs. 64.72 lakh, which were due for redemption on the same day. The Company has also not been able to pay interest of Rs. 2.34 lakh due on these NCDs from April 1, 2025 to October 7, 2025. The delay has been attributed to a general slowdown in the manufacturing sector, ongoing cash flow constraints, and a liquidity crunch. The Board stated that the Company is taking active steps to arrange funds and intends to complete both the redemption and interest payment within the next two weeks, while engaging with the Debenture Trustee and Debenture Holders.
This is a negative signal for shareholders and debenture holders, as it highlights a default on debt obligations and points to serious liquidity stress. Even though the management expects to resolve the matter within two weeks, the admission of cash flow problems may weigh on investor confidence and could lead to credit concerns.