One of Heranba’s group companies, Shakti Bioscience Ltd (Shakti), was declared as a wilful defaulter by Cosmos Co-op Bank Ltd (Cosmos) in FY16-17. Heranba acts as a co-borrower for a Rs35 crore term-loan issued to a group firm, Insunt Trading Pvt Ltd (Insunt). Heranba will have to bear the liability in case of default by Insunt in future. Heranba’s promoters were disqualified from acting as directors of its group entities for failing to file annual returns. Moreover, SEBI has issued some administrative orders against Heranba’s promoters in the past.
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