Please find attached herewith disclosure under reg 30 regarding in the matter of M/s. Deep Industries
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Harish Textile Engineers has informed BSE that the Micro and Small Enterprises Facilitation Council (MSEFC), Ahmedabad has terminated conciliation proceedings and directed the start of arbitration in a dispute with M/s. Deep Industries. The case relates to alleged delayed payment to Deep Industries, an MSE-registered supplier, under the MSMED Act, 2006. The company received the order (Application D.P. No. 5337) by post on 6 February 2026 and is reviewing it with legal advisors. The company has stated that at this stage there is no material impact on its financials or operations. This is the latest update in an ongoing matter first flagged by the company in April 2024.
The failed conciliation means the dispute will now move to formal arbitration, which could result in a financial liability if decided against the company. However, management has stated no material impact currently, so the immediate effect on shareholders is likely limited, though the outcome remains uncertain.