Directed Meetings for Composite Scheme Approval

Bhagyanagar India Limited has successfully conducted meetings of equity shareholders and trade creditors on March 14, 2026, following directions from the National Company Law Tribunal (NCLT), Hyderabad Bench. The meetings were convened to consider and approve a composite scheme of arrangement involving the company and its subsidiary. Meeting Details and Structure The company organized two separate meetings as per NCLT order dated January 29, 2026. The trade creditors' meeting for Bhagyanagar Copper Private Limited was held physically at Surya Towers, Sardar Patel Road, Secunderabad, while the equity shareholders' meeting was conducted through video conferencing and other audio-visual means. Meeting Type Venue Time Attendance Trade Creditors Surya Towers, Secunderabad 12:00 PM - 12:45 PM 28 creditors Equity Shareholders Video Conferencing 1:00 PM - 1:44 PM 46 members Composite Scheme of Arrangement The proposed composite scheme involves three entities: Bhagyanagar Copper Private Limited as the transferor company, Bhagyanagar India Limited as the transferee/demerged company, and Tieramet Limited as the resulting company. The scheme aims to restructure the corporate arrangement between these entities and their respective shareholders and creditors. Both meetings featured detailed presentations explaining the rationale and implications of the proposed scheme. Trade creditors raised queries regarding discharge of liabilities upon scheme implementation, potential changes in business relationships, and payment policies. The Chief Financial Officer provided satisfactory clarifications to all concerns raised. Meeting Proceedings and Governance The NCLT appointed separate chairpersons and scrutinizers for both meetings to ensure proper governance. Ms. G. Sumathi chaired the trade creditors' meeting with Mr. Venka Reddy Bathina as scrutinizer, while Ms. Siva Praneetha Sreeramula presided over the shareholders' meeting with Mr. Vinay Babu Gade as scrutinizer. Key Personnel Present Role Name Meeting Managing Director Mr. Devendra Surana (DIN: 00077296) Shareholders Chief Financial Officer Mr. Surendra Bhutoria Both meetings Company Secretary Mr. Vikas Sirohiya Both meetings The equity shareholders' meeting included participation from six directors, including independent directors, ensuring comprehensive board representation during the proceedings. Voting Process and Results The trade creditors' meeting employed physical polling through ballot papers, with votes segregated and verified by the scrutinizer. The equity shareholders utilized electronic voting facilities, including remote e-voting that closed at 5:00 PM on March 13, 2026, and live e-voting during the meeting. Both meetings successfully passed the proposed resolution with requisite majority approval. The voting results for the shareholders' meeting were scheduled to be published on the company's website, BSE Limited, and NSE within 48 hours of the meeting conclusion. Regulatory Compliance The meetings were conducted in full compliance with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, and directions from the NCLT. Notice dated February 9, 2026, was dispatched on February 11, 2026, along with the scheme details and explanatory statement under Section 102 of the Companies Act, 2013. The successful completion of both meetings marks a significant step in the corporate restructuring process, subject to final NCLT approval of the composite scheme of arrangement. Bhagyanagar India Limited has notified stock exchanges regarding the credit rating reaffirmation for its wholly owned subsidiary, Bhagyanagar Copper Private Limited. The company communicated this development to both NSE and BSE under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Credit Rating Details CRISIL Ratings has reaffirmed the credit ratings on bank facilities of Bhagyanagar Copper Private Limited, maintaining stability while significantly enhancing the facility amount. The rating action reflects the subsidiary's improved financial capacity and creditworthiness. Parameter: Details Total Bank Loan Facilities Rated: Rs.435 crore (Enhanced from Rs.280 crore) Long Term Rating: CRISIL BBB+/Stable Rating Agency: CRISIL Ratings Regulatory Compliance and Documentation The parent company has fulfilled its disclosure obligations by informing both major stock exchanges about this rating development. Managing Director Devendra Surana signed the official communication dated March 6th, 2026, ensuring compliance with listing regulations. The rating letter from CRISIL has been attached as an annexure to the stock exchange filing. Additionally, the company has made the complete report available on its official website at www.bhagyanagarindia.com for stakeholder access. Enhanced Financial Capacity The substantial increase in rated bank facilities from Rs.280 crore to Rs.435 crore represents a significant enhancement of 55.36% in the subsidiary's borrowing capacity. This expansion, combined with the stable rating outlook, indicates CRISIL's confidence in Bhagyanagar Copper Private Limited's financial management and business prospects. The BBB+/Stable rating suggests adequate safety for timely payment of financial obligations, with stable outlook indicating that the rating is unlikely to change in the near term. This rating reaffirmation supports the subsidiary's operational and expansion plans while maintaining investor confidence in the company's creditworthiness. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. 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