HEG Limited announced that the Hon’ble National Company Law Tribunal (Indore Bench) has approved convening critical meetings related to its Composite Scheme of Arrangement. The scheme involves HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited. The Tribunal’s order, dated March 26, 2026, permits the company to hold separate meetings for equity shareholders and secured/unsecured creditors of HEG, and for shareholders of Bhilwara Energy. Further details will follow the issuance of formal notices.
NCLT Approval for Scheme Meetings
Further to earlier intimations regarding the Composite Scheme of Arrangement involving HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited, HEG has received a significant directive from the judicial body. The Hon’ble National Company Law Tribunal, Indore Bench, issued an order on March 26, 2026, disposing of the Company Application CA(CAA)/1(MP)2026.
Mandated Shareholder and Creditor Meetings
The Tribunal’s order inter alia directs the convening of specific meetings necessary for the scheme’s progression. These meetings include:
- The meeting of equity shareholders, secured creditors, and unsecured creditors of HEG Limited.
- The meeting of equity shareholders of Bhilwara Energy Limited.
The official order from the Tribunal is accessible on both the Company’s official website, www.hegltd.com, and the Tribunal’s website. The document confirms the next procedural steps concerning the proposed arrangement under Sections 230 to 232 of the Companies Act, 2013.
Next Steps
The detailed schedule and logistics pertaining to these mandated meetings will be formally communicated to all concerned parties in the forthcoming Notice.
Source: BSE
