Date: October 30, 2026

KMP / Board / Auditor Changes

Not Specified

Dividend Declaration or Non-Declaration

Not Specified

Board Meeting Outcomes

Not Specified

Financial Results (Standalone & Consolidated)

Not Specified

Auditor’s Report

Not Specified

Disinvestment / Strategic Actions

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Other Operational / Legal / Strategic Disclosures

Legal Notice Details

  • The company has received a notice from the Assistant Commissioner, Udhyog, Meerut, Uttar Pradesh.
  • Notice Number: 382/2026 under Sections 20 and 21 of the Micro, Small and Medium Enterprises Development Act, 2006.
  • The notice pertains to Misc. Case No. 382/2026 dated October 21, 2026, received by the company on October 29, 2026.

Nature of Claim

  • The supplier, M/s Together Tech Private Limited, Ghaziabad, Uttar Pradesh, has filed a claim petition under Section 18 of the MSMED Act, 2006.
  • The total claim amount is ₹26,24,373.42, broken down as:
  • Principal amount for non-payment of supplied goods: ₹24,74,028.60
  • Interest: ₹1,00,344.82
  • Cost of legal notice: ₹50,000.00

Company's Response and Defense

  • The council has directed the company to submit a written reply within 15 days of receiving the notice.
  • The company's management contends that the supplier did not supply goods timely and failed to comply with other terms of the purchase order.
  • This alleged non-performance caused the company to miss export deadlines to a foreign buyer, who subsequently denied future orders for said items.
  • The company states that the notice and related correspondence have no basis in the MSMED Act or any contract and do not constitute any \"amount due\" under Section 17 of the MSMED Act.

Financial Impact Assessment

  • The maximum quantifiable financial impact, if the council allows the full claim, is ₹26,24,373.42.
  • The company has assessed that this amount does not have any major financial or operational impact on its business.

Supplier's Claim Petition Details (From Annexure)

  • Claimant: M/s Together Tech Private Limited (Udyam Registration No.: UDYAM-UP-28-0013794)
  • Respondent: M/s Banaras Beads Limited
  • The claim is based on 10 tax invoices raised between June 4, 2026, and August 9, 2026, aggregating to ₹35,32,024.60.
  • The supplier acknowledges receiving payments totaling ₹10,57,996.00, leaving a principal outstanding of ₹24,74,028.60.
  • Compound interest is calculated at 16.50% per annum (3 times the RBI Bank Rate of 5.50%), compounded monthly, amounting to ₹1,00,344.82 up to October 3, 2026.
  • The supplier also claims litigation costs of ₹50,000.00.

Council's Directives

  • Both parties are required to submit a written statement under oath within 15 days.
  • Parties must also pay a prescribed fee via bank draft in favor of \"Secretary, MSEFC, Meerut Zone, Meerut\" or via online transfer to Canara Bank (Account No.: 110008633537, IFSC: CNRB0018850). The fee is based on a slab structure, starting at ₹3,000 for claims up to ₹5 lakh.