Please find enclosed herewith outcome of Meeting of Unlisted Unrated Secured Non-Convertible Debentures of Harish Textile Engineers Limited
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Harish Textile Engineers held a meeting of debenture holders for its Old Series-III 7% Unlisted, Secured, Unrated, Redeemable Non-Convertible Debentures, following an earlier disclosure of default in redemption made on May 14, 2025. Out of 14 debenture holders, 9 attended the meeting held on May 22, 2025, and agreed in-principle to extend the redemption date to October 7, 2025. The formal extension will be processed only after the company receives signed No Objection Certificates from the majority of debenture holders. The company will now begin the necessary documentation and compliance steps once all consents are received.
This confirms that the company was unable to redeem its NCDs on the original due date and is negotiating an extension with debenture holders — a sign of short-term cash flow stress. Shareholders should view this as a credit-negative event, though the in-principle agreement to extend provides temporary relief from immediate default consequences.