GE Power India Limited has received an order from the National Company Law Tribunal (NCLT), Mumbai Bench, directing it to convene meetings of its equity shareholders and unsecured creditors within 70 days to consider the proposed demerger with JSW Energy Limited. The order, dated June 2, 2026, was uploaded on the tribunal's website on June 3, 2026. This regulatory approval advances the Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013, facilitating the corporate restructuring between the two entities.

The meetings must be conducted through video conferencing or other audio-visual means within 70 days from the date of receipt of the order, June 3, 2026. The purpose of these gatherings is to enable shareholders and unsecured creditors to consider and, if deemed fit, approve the proposed Scheme. The filing was signed by Puneet Bhatla, Managing Director of GE Power India Limited, and submitted under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Scheme of Arrangement designates GE Power India Limited as the Demerged Company and JSW Energy Limited as the Resulting Company. The arrangement encompasses the respective shareholders and creditors of both entities. GE Power India had previously intimated the exchanges regarding the scheme on September 18, 2025, and April 2, 2026.

Key Details of the NCLT Order

GE Power India Limited has issued a notice to shareholders regarding the transfer of unclaimed dividends and equity shares to the Investor Education and Protection Fund (IEPF) Authority. The company has advised shareholders to claim any outstanding dividends immediately to avoid the transfer of funds and shares to the government-established fund.

The notice specifically addresses unpaid dividends declared for the financial years 2018-19, 2019-20, and 2020-21. According to the company's records, these dividends remain unclaimed as of the current date. Under Section 124(6) of the Companies Act, 2013, any dividend that remains unpaid or unclaimed for seven consecutive years must be transferred to the IEPF. Additionally, the equity shares corresponding to these unclaimed dividends are also liable to be transferred to the IEPF Demat Account.

Shareholders have been instructed to submit the required documents to claim their unpaid dividends. The necessary documents include a duly filled and signed Letter of Undertaking, a self-attested copy of PAN Card and Address Proof, and a copy of a cancelled cheque. These documents must be submitted to the company’s Registrar and Transfer Agents, KFin Technologies Limited, or directly to the company’s office.

The company has set Saturday, August 22, 2026, as the final deadline for the receipt of these claims. It was noted that no dividends were declared by the company for the financial years 2021-22, 2022-23, 2023-24, and 2024-25. Furthermore, unpaid dividends up to the financial year 2017-18 have already been transferred to the IEPF.

Once the transfer to the IEPF is completed, the company will not entertain any claims regarding the dividend amounts or the equity shares. Shareholders with queries have been requested to contact GE Power India Limited or KFin Technologies Limited at the provided contact details.