IRM Energy secured approval from its equity shareholders and unsecured creditors for the proposed amalgamation with Enertech Distribution Management Private Limited. The meetings were held on September 12, 2026, following orders from the National Company Law Tribunal (NCLT), Ahmedabad Bench.

The company convened separate meetings for equity shareholders and unsecured creditors via video conferencing to vote on the Scheme of Amalgamation under Sections 230-232 of the Companies Act, 2013. Both resolutions were passed with requisite majorities, clearing a key regulatory hurdle for the transaction.

Voting Results

Equity shareholders voted overwhelmingly in favor of the scheme. Out of 41,059,677 total shares held by shareholders on the record date of September 5, 2026, 31,706,913 votes were polled, representing a 77.22% participation rate.

The promoter group cast all its votes in favor. Among public non-institutional shareholders, support stood at 99.99%, with only 295 votes cast against the resolution.

Creditor Approval

Unsecured creditors also unanimously approved the scheme. A total of 36 creditors participated in the voting process. The value of votes cast in favor amounted to ₹117.65 crore, representing 100% of the valid votes polled. No votes were recorded against the resolution.

Procedural Details

Mr. Sanjiv Dutt, appointed as Chairperson by the NCLT, chaired both meetings. Remote e-voting was conducted through MUFG Intime India Private Limited from September 9, 2026, to September 11, 2026. CA Sehmil Devdiwala served as the scrutinizer for both meetings, confirming that the resolutions were passed in excess of the requisite majority for shareholders and unanimously for creditors.

The next step involves submitting the voting results to the NCLT for final sanction of the amalgamation scheme.

IRM Energy has scheduled its 11th Annual General Meeting (AGM) for Tuesday, September 29, 2026, to transact ordinary and special business. The meeting will be held through Video Conferencing or Other Audio-Visual Means, with remote e-voting commencing on Saturday, September 26, 2026.

Key Agenda Items

The Board of Directors recommends several resolutions for shareholder approval during the meeting:

• Final Dividend: Declaration of a final dividend of ₹1.50 per fully paid-up equity share of face value ₹10 each for the financial year ended March 31, 2026 (FY26). This represents a 15% dividend payout. The record date is fixed for Friday, September 11, 2026.
• Director Reappointment: Reappointment of Dr Rajiv I Modi as Non-Executive Non-Independent Director, who retires by rotation. Dr Modi holds a 14.26% stake in the company on behalf of the IRM Trust.
• Statutory Auditor Appointment: Appointment of M/s Sorab S Engineer & Co as Statutory Auditors for a five-year term from the conclusion of this AGM until the 16th AGM. The proposed remuneration for FY27 is ₹22 lakh, excluding taxes and out-of-pocket expenses. This replaces M/s Mukesh M Shah & Co, whose two consecutive terms conclude after this AGM.
• Cost Auditor Remuneration: Ratification of remuneration for M/s Dalwadi & Associates, Cost Accountants, at ₹1.50 lakh plus applicable taxes for the audit of cost records for the financial year ending March 31, 2027.

Voting and Meeting Details

Shareholders holding shares as on the cut-off date of Tuesday, September 22, 2026, are eligible to vote. Remote e-voting will end on Monday, September 28, 2026, at 5:00 pm. Members can also vote electronically during the AGM if they have not cast their votes remotely.

Dividend payments will be processed only in electronic mode, in compliance with SEBI Listing Regulations. Shareholders are advised to update their bank details and KYC information with their Depository Participants to ensure timely receipt of dividends.