Hindware Home Innovation Limited Conducts NCLT-Ordered Meetings for Composite Scheme of Arrangement

Hindware Home Innovation Limited conducted three crucial meetings on March 07, 2026, as mandated by the National Company Law Tribunal (NCLT), Kolkata Bench, to approve a composite scheme of arrangement. The meetings were held at Somany Conference Hall of Merchants' Chamber of Commerce & Industry, Kolkata, involving unsecured creditors and equity shareholders. Meeting Schedule and Structure Three separate meetings were convened on March 07, 2026, following the NCLT order dated December 03, 2025, along with corrigendum orders dated December 10, 2025, and January 22, 2026: Meeting Type Time Participants Unsecured Creditors of Hindware Limited 12:15 P.M. (IST) Subsidiary company creditors Unsecured Creditors of Hindware Home Innovation Limited 12:45 P.M. (IST) Parent company creditors Equity Shareholders of Hindware Home Innovation Limited 1:15 P.M. (IST) Company shareholders Composite Scheme Details The primary agenda involved consideration and approval of the composite scheme of arrangement between three entities: Hindware Home Innovation Limited (Demerged Company/Remaining Transferor Company) HHIL Limited (Resulting Company) Hindware Limited (Transferee Company) The scheme operates under Sections 230 to 232 of the Companies Act, 2013, requiring requisite majority approval as prescribed under Section 230(6) of the Act. Meeting Proceedings and Governance Mr. Sandip Kumar Kejriwal chaired all three meetings as directed by the NCLT. Key company officials present included Mr. Girdhari Lal Sultania (Director), Mr. Sandeep Sikka (Group CFO), and Ms. Payal M Puri (Company Secretary & Sr. V.P. Group General Counsel). Mr. Jnana Ranjan Dhal served as the NCLT-appointed scrutinizer to ensure fair and transparent voting. The cut-off date for determining voting eligibility was set as September 30, 2025, with voting conducted through polling papers at the venue. Documentation and Compliance Comprehensive documentation was distributed to all eligible participants, including: Notice of meeting and explanatory statements under Sections 230 and 102 of the Companies Act, 2013 Composite scheme of arrangement details Valuation reports and fairness opinions Relevant disclosures as per SEBI regulations Requirements specified by NSE and BSE observation letters Meeting Outcomes and Timeline All three meetings concluded successfully with the following timeline: Meeting Start Time End Time Duration Hindware Limited Creditors 12:15 P.M. 12:44 P.M. 29 minutes HHIL Creditors 12:45 P.M. 1:12 P.M. 27 minutes Equity Shareholders 1:15 P.M. 2:00 P.M. 45 minutes The scrutinizer will submit the voting results report within seven days from the meeting conclusion. Results will be published on the company website and CDSL platform, with simultaneous forwarding to BSE Limited and National Stock Exchange of India Limited where the company's shares are listed. The resolutions are deemed to be passed on the meeting date, subject to scrutinizer confirmation. Hindware Home Innovation Limited has informed the stock exchanges about the resignation of one of its directors, marking a change in the company's board composition. The announcement was made through a formal communication to both BSE Limited and National Stock Exchange of India Limited on March 2, 2026. Director Resignation Details Mr. Girdhari Lal Sultania, holding Director Identification Number (DIN) 00060931, has tendered his resignation from his position as Non-Executive Non-Independent Director of the company. The resignation becomes effective from March 5, 2026, as stated in his formal resignation letter submitted to the board. Parameter: Details Director Name: Mr. Girdhari Lal Sultania DIN: 00060931 Position: Non-Executive Non-Independent Director Effective Date: March 5, 2026 Reason: Personal reasons and other pre-occupations Regulatory Compliance The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was sent to both stock exchanges where the company's shares are listed, ensuring transparency and regulatory compliance. The formal communication was signed by Payal M Puri, who serves as the Company Secretary and Senior Vice President Group General Counsel. The company has also indicated that this information will be made available on its official website at www.hindwarehomes.com . Documentation and Process As part of the regulatory requirements, Hindware Home Innovation Limited has provided comprehensive documentation including the resignation letter and requisite details as mandated by SEBI Master Circular. The resignation letter, dated March 2, 2026, was personally signed by Mr. Sultania, expressing his appreciation for the opportunity to serve on the board and wishing the company continued success. Mr. Sultania, who holds qualifications including B.Com., F.C.A., and F.C.S., stated in his resignation letter that he is stepping down due to personal reasons and certain other pre-occupations. The director expressed sincere appreciation for the opportunity to contribute to the company's growth during his tenure on the board. 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. 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