Key Quantitative Figures

  • Defaulted Principal Amount: ₹2,11,50,900 (₹2.1151 Crores)
  • Interest Status: Entire interest liability paid up to 30th June 2026. Interest accruing from 1st July 2026 onwards remains unpaid
  • Number of Investors: 20 investors affected
  • Total Debt Securities Issued: ₹4.232 Crores issued in Four Series
  • Series Breakdown:
  • Series I: ₹0.9278 Crore (redeemed on due date)
  • Series II: ₹1.1261 Crore (redeemed on due date)
  • Series III: ₹0.7115 Crore (defaulted on 7th October 2025)
  • Series IV: ₹1.4679 Crore (defaulted on 20th December 2025)
  • Total Financial Indebtedness: ₹30.25 Crore (including short-term and long-term debt)

Dates of Action

  • Original Default Dates: 7th October 2025 and 20th December 2025
  • Interest Payment Current: Up to 30th June 2026
  • Current Default Period: From 1st July 2026 onwards
  • Disclosure Date: 31st July 2026
  • Debenture Issuance Date: 21st September 2022
  • Tenure: 3 years

Parties Involved

  • Listed Entity: Harish Textile Engineers Limited (Scrip Code: BSE 542682)
  • Regulatory Authority: BSE Limited, SEBI
  • Debenture Trustee: Mentioned as engagement channel but not named

Instrument Details

  • Instrument Type: 7% Unlisted, Secured, Unrated, Redeemable, Non-Convertible Debentures (Old Series III & Series IV Debentures)
  • Interest Rate: 7% per annum
  • Payment Frequency: Half-yearly on 30th September and 31st March
  • Security: Secured debentures
  • Due Dates Extended: Multiple extensions from time to time as per applicable provisions and Transaction Documents

Financial Impact

  • Explicit Impact: The Company is facing financial constraints which have affected its ability to meet certain payment obligations
  • Quantified Impact: Default amount of ₹2.1151 Crore principal plus accrued interest from 1st July 2026
  • Contingency: Company continues to take necessary steps to address the situation

Company Actions and Commitments

  • Company has engaged with Debenture Holders through Debenture Trustee
  • Making sincere efforts to arrange necessary funds for payment of outstanding principal with applicable interest
  • Committed to fulfilling obligations towards Debenture Holders
  • Will keep Stock Exchange informed of any further material developments