Harish Textile Engineers has settled a legal dispute.

The National Company Law Tribunal (NCLT) has allowed the withdrawal of a petition filed by M/s. Kamlesh Corporation against the company.

This follows consent terms where outstanding amounts, including interest, will be paid in installments.

The NCLT dismissed the petition as withdrawn, with the condition that the creditor can re-initiate the matter if the company defaults on the agreed payments.

This development resolves a legal challenge, preventing a potential insolvency proceeding and is positive for operations and financials, provided terms are met.