HEG Limited successfully obtained necessary approvals for its Composite Scheme of Arrangement involving HEG Graphite Limited and Bhilwara Energy Limited. The meetings, conducted on May 5, 2026, saw overwhelming support from equity shareholders, secured creditors, and unsecured creditors. This strategic restructuring marks a key milestone for the company, ensuring the required majorities were met across all classes to advance the proposed corporate reorganization.
Strategic Restructuring Milestone
HEG Limited has announced the successful conclusion of meetings for its equity shareholders, secured creditors, and unsecured creditors, all held on May 5, 2026. The primary objective of these meetings was to seek formal approval for the Composite Scheme of Arrangement amongst HEG Limited, HEG Graphite Limited (the Resulting Company), and Bhilwara Energy Limited (the Transferor Company).
Approval Metrics
The resolution received near-unanimous support across all categories:
- Equity Shareholders: The resolution was passed with 99.9997% of votes in favour.
- Secured Creditors: With 100% of the total debt value represented, the creditors voted unanimously in favour of the scheme.
- Unsecured Creditors: Similarly, 100% of the voting unsecured creditors supported the proposal.
Project Details
The scheme, which aims to streamline the organizational structure of the involved entities, was approved by the requisite majorities as required under the law. The voting process, which included both remote e-voting and e-voting during the meetings, was overseen by an independent scrutinizer to ensure full compliance and transparency throughout the approval process.
Source: BSE
