NCLT Indore Bench Sanctions Composite Scheme of Arrangement for HEG Limited
HEG Limited, a manufacturer of graphite electrodes, has informed the NSE that the National Company Law Tribunal's Indore Bench has passed an order sanctioning its Composite Scheme of Arrangement. The filing does not disclose the counterparties, consideration, or underlying transaction structure. Composite schemes are governed under the Companies Act 2013 and allow multiple linked transactions (merger, demerger, asset transfers, financing) to be sanctioned in a single NCLT order, provided they are in the interest of the company and its stakeholders.
Why it mattersNCLT-sanctioned composite schemes bypass individual shareholder approvals for multiple linked transactions; this precedent clarifies whether the scheme encompasses merger, demerger, or financing restructuring under a single tribunal order.
SectorIndustrials
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