Meeting Details

The Meetings of Equity Shareholders and Unsecured Creditors of IRM Energy Limited were convened pursuant to orders dated July 27, 2026 and August 07, 2026 passed by the Hon'ble National Company Law Tribunal (NCLT), Ahmedabad Bench.

  • Equity Shareholders Meeting: Held on Saturday, September 12, 2026 at 10:30 A.M. IST through video conferencing/other audio-visual means (VC/OAVM). Concluded at 11:00 A.M. IST.
  • Unsecured Creditors Meeting: Held on Saturday, September 12, 2026 at 12:30 P.M. IST through VC/OAVM. Concluded at 12:53 P.M. IST.

Mr. Sanjiv Dutt, appointed as Chairperson by the Hon'ble NCLT, chaired both meetings.

Proposed Resolutions and Implications

The single resolution proposed at both meetings was to approve the Scheme of Amalgamation of Enertech Distribution Management Private Limited (Transferor Company) with IRM Energy Limited (Transferee Company) and their respective shareholders under Sections 230-232 and other applicable provisions of the Companies Act, 2013. The resolution authorized the Board to implement the Scheme and make necessary modifications subject to NCLT and other regulatory approvals.

Voting Process and Methods

The Company provided two methods for voting:

1. Remote e-voting: Facility was provided through M/s MUFG Intime India Private Limited (RTA). The voting period commenced on Wednesday, September 09, 2026 at 9:00 A.M. IST and ended on Friday, September 11, 2026 at 5:00 P.M. IST.

2. E-voting during meeting: Facility was provided for members present at the meeting who had not cast votes through remote e-voting. The e-voting facility remained open for 15 minutes after the conclusion of each meeting.

The cut-off date for determining eligibility was September 05, 2026 for equity shareholders and May 31, 2026 for unsecured creditors.

Key Voting Outcomes

Equity Shareholders Meeting

  • Total Equity Shareholders on record date: 75,170
  • Shareholders attended meeting through VC: Promoters & Promoter Group: 2; Public: 52
  • Total votes cast: 31,706,913 shares (77.2215% of total outstanding shares 41,059,677)
  • Votes in favor: 31,706,618 shares (99.9991% of votes cast)
  • Votes against: 295 shares (0.0009% of votes cast)

Category-wise Breakdown:

  • Promoter & Promoter Group: 20,835,059 shares voted (100% of holdings). 100% in favor.
  • Public Institutions: 1,289,159 shares voted (94.2616% of holdings). 100% in favor.
  • Public Non-Institutions: 9,582,695 shares voted (50.8178% of holdings). 99.9969% in favor (9,582,400 shares), 0.0031% against (295 shares).

Unsecured Creditors Meeting

  • Total votes cast (by value): INR 117.65 Crores
  • Votes in favor: INR 117.65 Crores (100% of votes cast)
  • Votes against: None
  • Number of creditors voted: 36

Scrutinizer's Role and Findings

Mr. Sehmil Devdiwala, Practicing Chartered Accountant (ICAI Membership No. 603705), was appointed as the Scrutinizer pursuant to the NCLT orders. His responsibilities included scrutinizing the remote e-voting and e-voting processes in a fair and transparent manner and preparing consolidated reports of the votes cast.

The voting data was unblocked and counted in the presence of two witnesses: Mr. Amit Panwar and Mr. Zaid Devdiwala. The Scrutinizer reconciled the downloaded data from the MUFG e-voting system with company records and confirmed the validity of the voting process.

The Scrutinizer concluded that the resolution was passed with the requisite majority at the equity shareholders meeting and unanimously at the unsecured creditors meeting. All relevant records were handed over to the Company Secretary for safe keeping.

Compliance Confirmation

The disclosure confirms compliance with the applicable provisions of:

  • The Companies Act, 2013
  • The Companies (Management and Administration) Rules, 2014
  • The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • The orders of the Hon'ble NCLT, Ahmedabad Bench