HEG Limited: Unsecured Creditors Approve Composite Scheme of Arrangement
HEG Limited's unsecured creditors met on May 5, 2026, to approve a Composite Scheme of Arrangement with HEG Graphite and Bhilwara Energy. The meeting, ordered by NCLT, confirmed the scheme via a Special Resolution. Voting results are to be submitted separately.
The approval of a Composite Scheme of Arrangement is a significant corporate action that could impact the future structure and operations of HEG Limited and its related entities. The outcome is positive for the proposed arrangement.
The meeting of unsecured creditors successfully convened and transacted business, leading to the approval of a crucial Composite Scheme of Arrangement. This indicates progress in the company's restructuring efforts.
HEG Limited held a meeting of its unsecured creditors on May 5, 2026, at 4:30 PM via Video Conferencing/Other Audio-Visual Means. This meeting was convened pursuant to an order from the Hon'ble National Company Law Tribunal (NCLT), Indore Bench, dated March 26, 2026.
The primary purpose of the meeting was to consider and approve a Composite Scheme of Arrangement involving HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited, along with their respective shareholders and creditors, under Sections 230 to 232 of the Companies Act, 2013.
The meeting, chaired by Mr. Ritesh Kumar Sharma, Advocate, and assisted by Mr. Vivek Chaudhary, Company Secretary, included presentations on the background, rationale, and salient features of the proposed scheme. A Scrutinizer, Mr. S. Alam Khan, Practicing Company Secretary, was appointed to oversee the remote e-voting and in-meeting e-voting processes.
Unsecured creditors had the opportunity to vote remotely from May 1, 2026, 9:00 AM (IST) to May 4, 2026, 5:00 PM (IST). Additional e-voting was available during the meeting for those who had not voted remotely. The specific resolution transacted was for the approval of the Composite Scheme of Arrangement, requiring a Special Resolution as per Section 230(6) of the Companies Act, 2013.
The meeting concluded at 4:55 PM, including a 15-minute period for e-voting post the proceedings. Details of the voting results and the Scrutinizers Report will be submitted separately.
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HEG Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. 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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