Asian Energy Services Limited has announced that the National Company Law Tribunal (NCLT), Mumbai Bench, has scheduled the final hearing for the sanction of its merger scheme with Oilmax Energy Private Limited on August 7, 2026. The scheme proposes the merger by absorption of Oilmax Energy Private Limited with Asian Energy Services Limited . The company disclosed this development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company petition was presented before the Tribunal on July 7, 2026. The hearing is set to take place at 10:30 a.m. or soon thereafter at the NCLT, Mumbai Bench. The advertisement regarding the notice of hearing was published in the Business Standard (Mumbai edition, English) and Navshakti (Mumbai edition, Marathi) on July 18, 2026.

Merger Details

The scheme involves the merger by absorption of Oilmax Energy Private Limited, acting as the Transferor Company, with Asian Energy Services Limited, acting as the Transferee Company. The petition was filed under Sections 230 and 232 read with Section 66 of the Companies Act, 2013.

Key Dates and Information

Any person desirous of making a representation regarding the petition must send a notice of intention to the Petitioner Companies' Authorised Representative and the Tribunal at least two days before the hearing date. The grounds of representation must be furnished in the form of an affidavit along with the notice. Harsh Ruparelia & Co., Chartered Accountants, has been appointed as the Authorised Representative for the Petitioner Companies.

Asian Energy Services Ltd shareholders have approved the re-appointment of Dr. Kapil Garg as Managing Director and the grant of stock options to a Non-Executive Non-Independent Director. The resolutions were passed through a remote e-voting process that concluded on June 24, 2026, with the requisite majority. The company also secured approval for the payment of remuneration to Independent Directors in compliance with regulatory norms.

The postal ballot notice was dated May 19, 2026, and the remote e-voting period was open from May 26, 2026, to June 24, 2026. A total of 20,696 shareholders were eligible to vote as on the cut-off date of May 22, 2026. The scrutinizer, Hemanshu Kapadia of Hemanshu Kapadia & Associates, validated the voting process conducted via the National Securities Depository Limited (NSDL) platform.

Voting Results Summary

The special resolution to re-appoint Dr. Kapil Garg (DIN: 01360843) received 99.9992% votes in favour, with 30,796,765 shares supporting the motion and 233 shares voting against it. The special resolution to grant stock options to Mr. Parikshit Datta (DIN: 06377749) under the AESL ESOP 2025 was approved with 99.9972% votes in favour, totaling 30,796,148 votes in favour and 850 against.

The ordinary resolution regarding remuneration for Independent Directors passed with 99.9992% of the votes polled. A total of 30,796,763 votes were cast in favour, while 235 votes were against the resolution. The total number of votes polled across all resolutions was 30,796,998.

Key Voting Details

The scrutinizer's report confirmed that no invalid votes or abstained votes were recorded during the e-voting process. The results were declared on June 26, 2026, and the documents have been submitted to the BSE Limited and National Stock Exchange of India Limited.