HEG Limited convened a meeting of its unsecured creditors on May 5, 2026, to deliberate on the proposed Composite Scheme of Arrangement. This corporate restructuring involving HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited was conducted via video conferencing as per a mandate from the National Company Law Tribunal. The meeting focused on seeking creditor approval for the restructuring plan under the provisions of the Companies Act, 2013.
Restructuring Progress
HEG Limited took a significant step in its organizational restructuring process by facilitating a meeting for its unsecured creditors on Tuesday, May 5, 2026. The session, which commenced at 4:30 P.M., was conducted through virtual means, allowing participants to review and provide their input on the Composite Scheme of Arrangement. This scheme encompasses HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited.
Scheme Objectives
The proposed arrangement, brought before the creditors for formal approval, is designed to align the interests of shareholders and creditors across the involved entities. The meeting provided a forum to explain the background and rationale behind the corporate consolidation. The process was overseen by an appointed Chairperson and a Scrutinizer, ensuring compliance with legal standards for e-voting and decision-making.
Voting and Next Steps
To ensure maximum participation, the company provided a remote e-voting facility starting from 9:00 A.M. on May 1, 2026, through to 5:00 P.M. on May 4, 2026. Creditors who had not exercised this option were given the opportunity to vote during the virtual meeting. The company has confirmed that the final voting results, along with the detailed report from the Scrutinizer, will be released to the public shortly.
Source: BSE
