LELloyds Engineering Works539992Scheme of arrangement

Unsecured creditors' meeting held on the proposed scheme of merger by absorption

The company has shared the proceedings of its meeting of unsecured creditors held on Friday, October 16, 2026.

By ScoutQuest · Fri 16 Oct 2026, 9:00 PM IST · 2 min read

Creditors Meeting Date

Friday, October 16, 2026

Approval Threshold

majority in number representing three-fourths in value of the unsecured creditors present and voting

NCLT Order Reference

August 19, 2026, Company Scheme Application No. C.A. (CAA) No. 124 / MB / 2026

What has been shared

The company has submitted the summary of proceedings of the meeting of its unsecured creditors held on Friday, October 16, 2026 at 2.45 P.M. (IST) through video conferencing or other audio-video means.

Why the meeting was held

• The meeting was convened, as per the directions of the Hon'ble National Company Law Tribunal, Mumbai Bench, to approve the Scheme of Merger by Absorption of Lloyds Infrastructure & Construction Limited (First Transferor Company), Metalfab Hightech Private Limited (Second Transferor Company) and Techno Industries Private Limited (Third Transferor Company) with Lloyds Engineering Works Limited (Transferee Company) and their respective shareholders.
• The Tribunal's order is dated August 19, 2026, in the Company Scheme Application No. C.A. (CAA) No. 124 / MB / 2026.
• The meeting was chaired by Mr. Pranay Luniya, Practicing Chartered Accountant, the Chairperson appointed by the Hon'ble Tribunal. Mr. Harshvardhan Tarkas, Practicing Company Secretary, was the scrutinizer appointed by the Hon'ble Tribunal to scrutinize the e-voting.

How approval is decided

• The Chairman informed the unsecured creditors that the Scheme shall be considered approved if the resolution is approved by a majority in number representing three-fourths in value of the unsecured creditors present and voting, in terms of Section 230(6) of the Companies Act, 2013.
• Voting was through NSDL: remote e-voting ran from Monday, October 12, 2026, 9:00 A.M. (IST) to Thursday, October 15, 2026, 5:00 P.M. (IST), and e-voting was also available during the meeting for those who had not already voted remotely.
• Unsecured creditors whose names appeared in the books of the company as on the cut-off date, March 31, 2026, were entitled to vote.
• The scrutinizer confirmed that the requisite quorum was present, after which the meeting was called to order.
• Physical attendance was not required and the facility for appointment of proxies was not available for this meeting.

What comes next

• The scheme, if approved by the unsecured creditors, will still be subject to 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 e-voting results, along with the Scrutinizer's Report, will be communicated to the stock exchanges within two working days from the conclusion of the meeting, and will also be placed on the websites of the company, NSDL and the stock exchanges.
• The company has stated that the results of voting will be intimated separately.
• The meeting concluded at 3.25 P.M. (IST) after being open for 15 minutes for e-voting to be completed by the unsecured creditors.

How this can be read

• This update is an update on the progress of the merger process, covering the meeting of one class of stakeholders, the unsecured creditors. It sets out the procedure followed and the threshold required for approval.
• The voting outcome itself is not part of this update, so the direction of the creditors' decision is not indicated here.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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