Tahmar Enterprises Receives Demand Notice from KDCC Bank Under SARFAESI Act; Contests Action
Tahmar Enterprises Ltd has received a demand notice issued by the Kolhapur District Central Co-operative Bank Limited (KDCC Bank) concerning a mortgage debt. The notice, dated July 1, 2026, calls upon the company to repay Rs. 2440.07 Lacs within sixty days.The notice relates to a deed of mortgage executed on October 17, 2024, registered at sr. no. 4901/ 24 in favor of the bank. The secured assets are located on Gat no. 990/1 situated at Bhadgaon, Gadinglaj, Kolhapur. Tahmar Enterprises received this demand notice on July 8, 2026.
The company stated that it does not accept the demand and is actively contesting the action. According to the enterprise, the bank’s action is contrary to the established framework for the revival and rehabilitation of micro, small and medium enterprises. This framework mandates specific steps be followed before an eligible enterprise's account is classified as non-performing and enforcement measures are initiated.
In response to the development, Tahmar Enterprises confirmed that while the received notice is a demand under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), no further measures under Section 13(4) have been initiated by the bank. The company added that it is pursuing all available remedies in accordance with the law and is taking appropriate steps to resolve the matter.
Stock Price Movement
Tahmar Enterprises Ltd closed on Friday, settling shares at ₹4.25, which represented a 3.16% increase. The stock saw movement during the day, trading between an intraday low of ₹3.92 and a high of ₹4.30.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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