Please find enclosed herewith Intimation in the matter of Deep Industries Case, Company has received Statement of Claim.
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Harish Textile Engineers has received a Statement of Claim from M/s. Deep Industries before the MSEFC (Micro and Small Enterprises Facilitation Council) in Ahmedabad, filed under Section 18(3) of the MSMED Act, 2006. The claim relates to alleged delayed payment and seeks a total of Rs. 97.59 lakh, of which Rs. 72.09 lakh is interest. This is a continuation of ongoing arbitration proceedings, with the company having made similar disclosures several times since April 2024. The company is currently reviewing the claim with its legal advisors and will respond within prescribed timelines. No financial impact has been quantified yet, as it depends on the arbitration outcome.
If the claim is upheld, the company could face a financial liability of up to Rs. 97.59 lakh plus further interest, which is material for a small-cap company. However, no order has been passed yet, and the matter is still under review, so there is no immediate impact on operations or shareholders.