GE Power India Shareholders and Unsecured Creditors Approve Scheme of Arrangement with JSW Energy Limited
GE Power India Limited successfully concluded the Tribunal Convened Meeting for Equity Shareholders and Unsecured Creditors on July 20, 2026, approving the proposed Scheme of Arrangement with JSW Energy Limited. The voting results confirmed that both shareholder and creditor bodies passed the requisite resolutions, based on their respective mandates.The resolution detailed in the Notice dated June 18, 2026 for the meetings was approved by the Equity Shareholders and Unsecured Creditors with a majority, as determined during the meeting.
Equity Shareholder Voting Results
The Equity Shareholders' meeting was held via Video Conferencing (VC)/Other Audio-Visual Means (OAVM) and featured voting conducted through Remote E-voting and at the Meeting. The Scheme of Arrangement approval received overwhelming support from all shareholder segments.Out of a total of 72,235 shareholders on record date, the consolidated voting results were as follows:
| Segment | Mode of Voting | Shares Held | Votes Polled | % of Votes Polled on Outstanding Shares | Votes in Favour | % of Votes in Favour on Votes Polled |
|---|---|---|---|---|---|---|
| Promoter and Promoter Group | E-Voting | 46,102,083 | 46,102,083 | 100.00% | 46,102,083 | 100.00% |
| Public - Institutions | E-Voting | 1,528,712 | 388,570 | 25.4181% | 388,570 | 100.00% |
| Public - Non Institutions | E-Voting | 19,596,676 | 1,568,129 | 8.002% | 1,567,609 | 99.96% |
| Total | E-Voting | 67,227,471 | 48,058,883 | 71.487% | 48,058,269 | 99.99% |
The resolution was deemed approved on the date of the meeting, as the votes cast in favour through Remote E-voting or at the Meeting represented three-fourths in value of the shares held by those who voted in favour.
Unsecured Creditors' Approval
In addition to the shareholder approval, GE Power India Limited’s resolution regarding the Scheme of Arrangement was also approved by the Unsecured Creditors. The vote reflected the requisite majority based on the value of debt.The voting results for the Unsecured Creditors were summarized as follows:
| Mode of Voting | No. of Unsecured Creditors Voted | Total Value of Debt (INR) | % in Value Terms of Valid Votes | No. of Votes Cast in Favour | % in Value Terms of Valid Votes |
|---|---|---|---|---|---|
| Remote E-Voting | 84 | 132,451,6676 | 99.9359% | 132,451,6676 | 99.9274% |
| Voting at the Meeting | 1 | 112,318 | 100.00% | 0 | 0.0085% |
| Total | 85 | 132,462,8994 | 99.9359% | 132,462,8994 | 99.9359% |
The resolution was declared approved as the Unsecured Creditors who voted in favour represented a majority of three-fourths in the value of the amount due to them.
GVPIL Stock Price Movement
GE Power India Limited's shares today slipped by 1.60% to close at ₹811.3. The equity saw a traded volume of 183,670 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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