The Legal notice dated 7th Feb 2026 was received by the Company through Speed Post on 9th Feb 2026. A copy of Legal Notice dt 07.02.2026 and envelop dt.09.02.2026 seal affixed by Post ....
Awaiting price reaction for this filing.
Dharani Sugars received a legal notice on 9 February 2026 from NARCL (National Asset Reconstruction Company), acting through its agent IDRCL, alleging several material defaults under a Master Restructuring Agreement (MRA) signed in May 2024. The defaults include failure to allot 20% equity shares to NARCL, not creating a ₹15 crore Debt Service Reserve Account, not forming a Monitoring Committee, not arranging additional funds to pay farmers' dues, and raising around ₹25 crore of extra debt without lender consent. Additionally, a scheduled repayment of ₹10.48 crore due on 31 December 2025 remains unpaid. The original loan recovery cases are pending before DRT-I Chennai (Indian Bank) and DRT-III Chennai (Bank of India), where joint compromise memos had been filed. The lender has given the company and its promoters one month to cure all defaults, failing which it will approach the DRT for a Recovery Certificate, which could revive the full outstanding debt.
This is a significant negative signal for shareholders — it indicates the company's debt restructuring is on the verge of collapse, with the lender actively threatening to revive full recovery proceedings. If defaults are not cured within a month, the entire outstanding amount could become immediately due, putting serious financial and equity-dilution pressure on the company.