HEG Limited has issued an official notice for the equity shareholders meeting of Bhilwara Energy Limited, scheduled for May 5, 2026, as part of the ongoing composite scheme of arrangement process. Following the National Company Law Tribunal (NCLT) Indore Bench order dated March 26, 2026, the company has provided comprehensive details for stakeholder participation in the corporate restructuring involving HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited.

Meeting Schedule and Digital Access Framework

The equity shareholders meeting of Bhilwara Energy Limited (Transferor Company) will be conducted through Video Conferencing (VC) and other audio visual means (OAVM) as directed by the Hon'ble Tribunal. The meeting forms part of the comprehensive stakeholder approval process under Sections 230 to 232 of the Companies Act, 2013.

E-Voting Timeline and Documentation Access

HEG Limited has established a structured e-voting framework to facilitate remote participation in the approval process. The remote e-voting will commence on May 1, 2026 at 9:00 a.m. (IST) and conclude on May 4, 2026 at 5:00 p.m. (IST), with April 28, 2026 serving as the cut-off date for determining eligible equity shareholders.

Regulatory Compliance and Documentation

Company Secretary Vivek Chaudhary has submitted the meeting notice to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI (LODR) Regulations, 2015. The comprehensive documentation includes the complete Composite Scheme of Arrangement, explanatory statements under Sections 230 and 232 read with Section 102, and other applicable provisions of the Companies Act, 2013.

Composite Scheme Structure and Legal Framework

The scheme operates under the legal framework of Sections 230-232 of the Companies Act, 2013, with the NCLT Indore Bench overseeing the process through Application CA(CAA)/1(MP)2026. The meeting will serve as a crucial platform for Bhilwara Energy Limited shareholders to review, discuss, and approve the proposed arrangements that will reshape the corporate structure of the involved entities.

Next Steps and Implementation Timeline

Following the May 5 meeting, the company will proceed with implementation based on stakeholder approvals from all three entities involved in the composite scheme. The structured approach ensures comprehensive stakeholder participation through both digital voting mechanisms and virtual meeting platforms, marking a significant milestone in the corporate restructuring initiative that began with the NCLT approval in March 2026.

HEG Limited has received an Environmental, Social and Governance (ESG) score of 63 from NSE Sustainability Ratings and Analytics Limited, categorized as 'Adequate' based on publicly available data. The company disclosed this development on April 2nd, 2026, in compliance with regulatory requirements.

ESG Rating Details

The rating assessment was conducted independently by NSE Sustainability Ratings and Analytics Limited using information available in the public domain. The company emphasized that it did not engage NSE Sustainability for this rating exercise, highlighting the independent nature of the evaluation.

Regulatory Compliance

HEG Limited made this disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was also made in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30th, 2026.

Company Information

HEG Limited operates with its corporate office located in Bhilwara Towers, Noida, and registered office in Mandideep near Bhopal, Madhya Pradesh. The company holds multiple ISO certifications including ISO 9001, ISO 14001, and ISO 45001, demonstrating its commitment to quality, environmental management, and occupational health and safety standards.

The disclosure was signed by Vivek Chaudhary, Company Secretary, emphasizing the company's adherence to transparency and regulatory compliance requirements in the Indian capital markets.