Banaras Beads faces MSME claim of ₹26.24 lakh from supplier
Banaras Beads Limited received a notice from the Assistant Commissioner, Udhyog, Meerut, regarding a claim of ₹26.24 lakh from supplier M/s Together Tech Private Limited. The claim is for non-payment of supplied goods and includes interest and legal costs. The company has 15 days to respond and disputes the claim's validity.
The claim amount of ₹26.24 lakh, while disputed, is a material sum for the company. Although management believes it won't have a major operational impact, it is significant enough to warrant a MEDIUM impact rating due to potential financial implications and the ongoing legal process.
The company is facing a legal claim from a supplier, which, if awarded, could result in a significant financial payout. While the company disputes the claim, it represents a potential negative financial and legal development.
Banaras Beads Limited has received a notice from the Assistant Commissioner, Udhyog, Meerut, Uttar Pradesh, under Section 20 and 21 of the Micro, Small and Medium Enterprises Development Act, 2006.
One of the company's suppliers, M/s Together Tech Private Limited, has filed a claim amounting to ₹24,74,028.60 for principal non-payment of supplied goods. Additionally, the claim includes ₹1,00,344.82 as interest, ₹50,000 for future interest cost, and legal notice charges, bringing the total claim to ₹26,24,373.42.
The company has been directed to submit a reply within 15 days of receiving the notice, which was dated October 21, 2026, and received on October 29, 2026. The management stated that the supplier failed to supply goods on time and comply with purchase order terms, resulting in delayed exports and the loss of future orders from a foreign buyer. The company believes the claim has no basis under the MSMED Act or any contract and that the claimant is not entitled to the reliefs sought.
If the council allows the full claim, the maximum financial impact would be ₹26,24,373.42, although the company believes it will not have a major financial or operational impact on its business.
What to do with a filing like this
Banaras Beads Limited filed this with the NSE as a statutory disclosure, categorised under regulatory impact. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Banaras Beads Limited. Read the original for the full detail.