News Orders & Deals Rudra Ecovation Updates on NCLT Meetings for Transferee Company Shiva TexfabsRudra Ecovation Updates on NCLT Meetings for Transferee Company Shiva Texfabs
Rudra Ecovation Limited provided updates on three NCLT-convened meetings for transferee company Shiva Texfabs Limited held on February 21, 2026. The meetings covered equity shareholders (12:32-12:38), secured creditors (2:34-2:47), and unsecured creditors (4:31-4:59) to consider the scheme of amalgamation between the two companies. All meetings were conducted through video conferencing with Mr. Ashwani Sharma as Chairman and Mr. Mohit Chawla as scrutinizer for the e-voting process.
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Rudra Ecovation Limited provided an update on the NCLT-convened meetings held for transferee company Shiva Texfabs Limited on February 21, 2026. The company conducted three separate court-convened meetings through video conferencing to deliberate on the proposed scheme of amalgamation, covering equity shareholders, secured creditors, and unsecured creditors.
Meeting Schedule and Timings
The three meetings for Shiva Texfabs Limited were conducted at different times throughout the day, with all sessions held through video conferencing in compliance with NCLT directions. The meetings covered different stakeholder groups as part of the amalgamation scheme approval process.
| Type of Meeting: | Time of Meeting | Conclusion of Meeting |
|---|---|---|
| Equity Shareholders Meeting: | 12:32 | 12:38 (Extended till 15 Minutes for venue voting) |
| Secured Creditors Meeting: | 2:34 | 2:47 |
| Unsecured Creditors Meeting: | 4:31 | 4:59 |
NCLT Authorization and Legal Framework
Mr. Ashwani Sharma, Advocate (P/6198/2018), was appointed as Chairman by the Hon'ble National Company Law Tribunal, Chandigarh Bench through an order dated November 06, 2025, in Company Application No. CA(CAA)/47/CHD/HRY/ of 2025. All meetings were conducted in compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Scheme of Amalgamation Details
The primary agenda item presented to equity shareholders, secured creditors, and unsecured creditors was the Scheme of Arrangement between Rudra Ecovation Limited (Transferor Company) and Shiva Texfabs Limited (Transferee Company), along with their respective shareholders and creditors. The scheme was placed before all stakeholder groups for consideration and approval during their respective court-convened meetings.
E-Voting Process and Scrutiny
The company facilitated both remote e-voting and electronic voting during all meetings. Remote e-voting commenced at 9:00 AM (IST) on Tuesday, February 17, 2026, and concluded at 5:00 PM (IST) on Friday, February 20, 2026.
| E-Voting Timeline: | Details |
|---|---|
| Remote E-Voting Start: | February 17, 2026, 9:00 AM |
| Remote E-Voting End: | February 20, 2026, 5:00 PM |
| Scrutinizer: | Mr. Mohit Chawla, Practising Chartered Accountant |
| Results Dissemination: | Stock exchanges, company website, CDSL |
Mr. Mohit Chawla, a Practising Chartered Accountant, was appointed as scrutinizer to oversee the electronic voting process for all meetings. The voting results will be disseminated to stock exchanges and uploaded on the company's website and Central Services Depository India Limited (CDSL) platform.
Regulatory Compliance
The company filed the proceedings under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with BSE Limited. CS Nancy Singla, Company Secretary and Compliance Officer, signed the regulatory filings and meeting summaries. The company indicated that e-voting results would be communicated separately within 2 working days upon receipt of the scrutinizer's report for all meetings.
Historical Stock Returns for Rudra Ecovation
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.43% | -6.42% | -4.72% | -41.62% | -57.66% | +534.29% |
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