HEG Limited: Relinquishment of Ravi Jhunjhunwala from Chairman, MD & CEO pursuant to Composite Scheme of Arrangement

Regulatory 24 Aug 2026 · Announced· ✓ Verified

HEG Limited filed a regulatory update with NSE disclosing a change in the board status of its incumbent Chairman, Managing Director and CEO, Ravi Jhunjhunwala. The transition is explicitly tied to the effectiveness of a Composite Scheme of Arrangement scheduled for 1 September 2026. Post-transition, Jhunjhunwala remains on the board as a Non-Executive Non-Independent Director. This suggests a broader corporate restructuring or M&A event under which the incumbent executive role is being restructured, though the full scheme details (counterparties, consideration, and merger/demerger mechanics) are not disclosed in this announcement alone.

Why it mattersA Composite Scheme of Arrangement triggering KMP transitions underscores the intersection of M&A structuring with Companies Act disclosure obligations under Schedule III and MCA rules on scheme effectiveness and managerial re-designation.
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