Default31 Jul 2026, 06:40 pm
Harish Textile Engineers Defaults on NCD Principal and Interest
AI Summary
Harish Textile Engineers Ltd has announced a delay and default in the payment of principal and interest for its 7% Unlisted, Secured, Unrated, Redeemable, Non-Convertible Debentures (Old Series III & Series IV). The company has discharged interest liabilities up to June 30, 2026, but the principal amount and subsequent interest remain unpaid due to ongoing financial constraints. The default amount for the principal is ₹2.1151 Crores. The company is engaging with debenture holders and the trustee to arrange funds for payment and remains committed to fulfilling its obligations.
Key Highlights
- Default on principal payment of ₹2.1151 Crores for Unlisted NCDs.
- Interest payment from July 1, 2026, onwards also remains unpaid.
- Company cites ongoing financial constraints as the reason for default.
- Harish Textile Engineers is actively seeking funds and engaging with debenture holders.
Price Impact
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