The National Company Law Tribunal (NCLT) has sanctioned the merger scheme between Rudra Ecovation and Shiva Texfabs Limited. The order marks a significant step in the consolidation process for both entities.

Regulatory Approval

The NCLT, Chandigarh Bench, pronounced its order sanctioning the Scheme of Merger and Amalgamation on September 16, 2026. The scheme involves Rudra Ecovation Limited as the transferor company and Shiva Texfabs Limited as the transferee company. It covers the respective shareholders and creditors of both firms.

Rudra Ecovation disclosed the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On September 18, 2026, the company informed the Bombay Stock Exchange that the final order has been uploaded to the official NCLT website. The company stated it has accessed and downloaded the order from the tribunal's portal.

Next Steps

Upon receiving the certified order, Rudra Ecovation will undertake necessary filings with stock exchanges and other statutory authorities. The company indicated it would provide further disclosures as required by SEBI listing regulations once statutory compliances are completed.

The matter had been reserved for pronouncement following proceedings at the Chandigarh bench. The approval allows the companies to proceed with the legal integration of their operations and shareholder bases.

Rudra Ecovation Limited has published the notice for its 45th Annual General Meeting (AGM) in national newspapers, confirming the gathering is scheduled for September 30, 2026. The textile manufacturer reported a widening net loss of ₹406.97 lakh for FY26, despite an 18% rise in revenue.

The company filed its annual report and AGM notice with the Bombay Stock Exchange. The disclosures were made pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates newspaper advertisements for AGM notices.

Financial performance

Total revenue from operations and other income stood at ₹3,215.91 lakh in FY26, up from ₹2,735.24 lakh in FY25. However, operating margins deteriorated significantly. Gross profit before interest and depreciation swung to a loss of ₹180.43 lakh from a loss of ₹88.76 lakh in the previous year.

Finance costs decreased by 12% to ₹128.05 lakh, providing some relief against rising operational losses. The company did not declare any dividend due to insufficient funds.

Board changes

The key personnel changes approved by the board include:

Mr. Tiwari resigned citing personal and unavoidable circumstances. Notably, both Mr. Thakur and Mr. Kapoor are proposed to serve without any salary, remuneration, or commission during their respective tenures, given the company's present financial position, continuing losses, and inadequate availability of funds.

Annual General Meeting details

The board approved the following details for the 45th AGM for the financial year ended March 31, 2026:

The AGM agenda includes adoption of audited financial statements for the year ended March 31, 2026, re-appointment of Akhil Malhotra as Non-Executive Director retiring by rotation, re-appointment of Gian Chand Thakur as Whole Time Director, and appointment of Inderpreet Singh as Independent Director and Rahul Kapoor as Executive Director. Shareholders holding shares as on the cut-off date of September 23, 2026 may cast their vote electronically.