Heranba Industries Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
HERANBA · price
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Haresh Petrochem Private Limited has filed an insolvency application before NCLT Mumbai against Heranba Organics Private Limited (HOPL), a 100% wholly owned subsidiary of Heranba Industries, under Section 9 of the Insolvency and Bankruptcy Code. The total claim is around Rs. 1.70 Crores, of which HOPL has already made a part payment, leaving an outstanding balance of approximately Rs. 93.90 Lakhs. HOPL withheld the remaining payment because of a quality issue in the goods supplied by the petitioner, and is actively working to resolve the matter. The hearing is scheduled for February 27, 2026, and the company expects the dispute to be settled amicably outside NCLT without adjudication. HOPL has stated that once resolved, there will be no impact on Heranba Industries' consolidated position.
If the NCLT admits the petition, it could materially impact Heranba Industries' consolidated financials, operations, and future prospects given HOPL is a fully owned subsidiary. However, the company is confident of an out-of-court settlement since the outstanding amount is small and the dispute is over a quality issue rather than a genuine inability to pay.