Harish Textile Engineers Ltd — Others, 12-06-2025: AGM/EGM

Harish Textile Engineers Limited has announced a postal ballot seeking shareholder approval to transfer its loss-making Textile Processing and Finishing Machinery Business to Nfinia Industries Private Limited, a promoter-owned entity, on a slump sale basis. The business has a negative net worth of Rs 20.03 Cr as of March 31, 2025, with assets valued at Rs 6.09 Cr against liabilities of Rs 26.12 Cr. The transfer aims to improve the company's financial health and allow focus on its profitable Non-woven and PSF segments. Shareholders are also requested to approve related party transactions pertaining to this transfer and a leave & license agreement for the registered office premises with a promoter-related party at Rs 2.5 lakh monthly rent plus GST. Additionally, the company has announced the appointment of Mr. Ashwini Ramakant Gupta as a non-executive independent director for five years.