Court-convened equity shareholders' meeting on merger scheme held; voting results to follow
Court-convened meeting of the equity shareholders of Lloyds Engineering Works Ltd was held on October 16, 2026 at 11.30 A.M. through video conferencing.
By ScoutQuest · · 2 min read
- Meeting Date
- October 16, 2026 at 11.30 A.M.
- Cut-off Date
- Friday, October 09, 2026
- Result Intimation Timeline
- within two working days
What happened
The equity shareholders of Lloyds Engineering Works Limited met on Friday, October 16, 2026 at 11.30 A.M. (IST) through video conferencing / other audio-visual means. The meeting was convened on the directions of the Hon'ble National Company Law Tribunal, Mumbai Bench, and was chaired by Mr. Pranay Luniya, a Practicing Chartered Accountant appointed by the Tribunal. Mr. Harshvardhan Tarkas, Practicing Company Secretary, was appointed as scrutinizer for the e-voting.
A single resolution was put to the shareholders: approval of the Scheme of Merger by Absorption. The meeting concluded at 12.25 P.M. (IST), after being kept open for 15 minutes for shareholders who had not already voted to complete e-voting.
The scheme before shareholders
Under the proposed Scheme, three companies would merge into Lloyds Engineering Works Limited (the 'Transferee Company'):
- Lloyds Infrastructure & Construction Limited (First Transferor Company)
- Metalfab Hightech Private Limited (Second Transferor Company)
- Techno Industries Private Limited (Third Transferor Company)
The Scheme is proposed under Sections 230 to 232 of the Companies Act, 2013.
How the Scheme is treated as approved
The Chairman told shareholders that the Scheme will be considered approved only if both conditions are met:
- The resolution is approved by a majority in number representing three-fourths in value of the equity shareholders present and voting, in terms of Section 230(6) of the Act.
- The votes cast by public shareholders in favour of the resolution exceed the votes cast by public shareholders against it.
Voting and cut-off
The facility of remote e-voting and e-voting at the meeting was provided to all equity shareholders in proportion to their voting rights as on the cut-off date of Friday, October 09, 2026. Remote e-voting commenced on Monday, October 12, 2026 at 9:00 A.M. (IST) and ended on Thursday, October 15, 2026 at 5:00 P.M. (IST).
What comes next
Even if the equity shareholders approve, the Scheme will be subject to the subsequent approval of the Hon'ble Tribunal and such other approvals, permissions and sanctions from any other regulatory or statutory authorities as may be deemed necessary.
The Chairman informed shareholders that the e-voting results, along with the Scrutinizer's Report, would be communicated to the stock exchanges within two working days from the conclusion of the meeting, and would also be placed on the websites of the Company, NSDL and the stock exchanges. The update states that the results of voting will be intimated separately.
Also from Lloyds Engineering Works
Unsecured creditors' meeting held on the proposed scheme of merger by absorption
16 Oct 2026
Promoter releases pledge on 1,80,00,000 equity shares
13 Oct 2026
Promoter creates pledge over 1,10,00,000 shares (0.71%) in favour of Aditya Birla Capital
13 Oct 2026
More numbers
- Approval threshold in value of shareholders present and votingthree-fourths in value
- Time to intimate e-voting results to stock exchangestwo working days
- Time kept open for e-voting at the meeting15 minutes
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