Meeting Details

Date: Monday, 20th July 2026

Location: Conducted via Video Conferencing (VC) / Other Audio Visual Means (OAVM)

Type of Meeting: Court Convened Meetings ordered by the NCLT, Mumbai Bench (Order dated 2nd June 2026)

Meeting Schedule:

  • Equity Shareholders Meeting: 10:30 a.m. to 11:39 a.m. (IST)
  • Unsecured Creditors Meeting: 12:30 p.m. to 12:57 p.m. (IST)

Summary of Proposed Resolution

The single item of business for both meetings was:

Approval of the Scheme of Arrangement between GE Power India Limited and JSW Energy Limited and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

The resolution required a special majority as prescribed under Section 230(6) of the Companies Act, 2013.

Voting Process and Methods

The Company provided two methods for voting:

1. Remote E-Voting: Facility was provided through KFin Technologies Limited, the Registrar and Transfer Agent.

  • For Equity Shareholders: Cut-off date was 13th July 2026. Voting period: From 9:00 a.m. on Thursday, 16th July 2026 to 5:00 p.m. on Sunday, 19th July 2026.
  • For Unsecured Creditors: Cut-off date was 31st May 2026. Voting period: Same as above (16th-19th July 2026).

2. E-Voting During Meeting: Participants who hadn't voted remotely could vote via e-voting during the meeting and for 15 minutes after its conclusion.

Key Voting Outcomes

The document states that the item of business was "approved by the Members and Unsecured Creditors, respectively, with the requisite majority" based on the count of valid votes and the Scrutinizer's reports. However, specific numerical voting results (total votes cast, percentage in favor/against, category-wise breakdown) are not provided in this disclosure. The company notes that "Details of voting results as required under Regulation 44(3) of the Listing Regulations along with the Scrutinizers Report will be submitted separately."

Scrutinizer's Role

Ms. Pooja Singhal, Practising Company Secretary, was appointed by the NCLT as the Scrutinizer for both meetings. Her role was to scrutinize the voting process and report the results. Her findings concluded that the scheme was approved with the requisite majority.

Compliance Confirmation

The meetings were conducted in accordance with:

  • The Companies Act, 2013
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Relevant circulars issued by regulatory authorities
  • Directions of the Hon'ble NCLT, Mumbai Bench

The disclosure confirms that the outcome and proceedings have been placed on the Company's website at jswenergy.in/investors/scheme-of-arrangement/.

Attendees and Management Representation

Equity Shareholders Meeting Attendees:

  • Chairman: Mr. Mohan Prasad Tiwari (former Hon'ble Member (J) of NCLT)
  • Management: Mr. Sharad Mahendra (Joint MD & CEO), Mr. Chandrasekaran Prabhakaran (CFO)
  • Directors: Mr. Sunil Goyal, Ms. Rupa Devi Singh, Mr. Munesh Khanna, Mr. Rajeev Sharma, Mr. Desh Deepak Verma, Mr. Rajiv Chaudhri, Mr. Ajoy Mehta (all via VC)
  • Auditors: Representatives from Deloitte Haskins & Sells LLP (Statutory Auditor) and Purwar & Purwar Associates LLP (Secretarial Auditor) attended via VC
  • Absent: Mr. Sajjan Jindal (Chairman & MD), Mr. Parth Jindal (Non-Executive Director)

Unsecured Creditors Meeting Attendees:

Same management, director, and auditor representation as the shareholders meeting.

Shareholder Engagement

During the equity shareholders meeting, registered speakers inquired about:

  • Benefits to the Company from the scheme
  • Cost of the transaction
  • Basis of the share swap ratio
  • Expected completion timeline

The management of the Company provided suitable responses to these queries. No queries were raised by unsecured creditors during their meeting.