Hinduja Leyland Finance Creditors and Shareholders Approve Merger Scheme with NDL Ventures
The Scheme of Merger by Absorption of Hinduja Leyland Finance Limited into NDL Ventures Limited has received approval from both the Unsecured Creditors and the Equity Shareholders of Hinduja Leyland Finance Limited (HLFL). These approvals were confirmed during meetings convened on July 30, 2026.A Scrutinizer’s report detailing the results of the voting process was submitted for the Hon'ble NCLT-convened meeting of the Unsecured Creditors held on July 30, 2026. The report confirmed that one resolution proposed in the Notice was duly approved and passed by the Unsecured Creditors (including unsecured Debenture Holders) with the requisite majority.
The voting for the Scheme approval among creditors showed a strong favorable outcome. Out of all participants, 110 unsecured creditors voted in favour of the resolution, representing a total outstanding debt amount of 20,98,74,50,015. This favourable vote included 102 creditors who participated via remote e-voting and 8 who voted during the meeting at the time allotted.
In contrast, 4 unsecured creditors cast votes against the resolution, with an outstanding debt amount of 28,00,000 recorded for that group. There were no invalid or abstained votes reported in either voting mode among the Unsecured Creditors.
The results of the vote among unsecured creditors are summarized below:
| Mode of Voting | Votes in Favour | Outstanding Debt (Favourable) | Percentage of Total Valid Votes Cast |
|---|---|---|---|
| Remote E-Voting prior to the Meeting | 102 | 20,98,41,50,015 | 100% |
| E-Voting at the time of Meeting | 8 | 33,00,000 | 100% |
| Total | 110 | 20,98,74,50,015 |
| Mode of Voting | Votes against | Outstanding Debt (Against) | Percentage of Total Valid Votes Cast |
|---|---|---|---|
| Remote E-Voting prior to the Meeting | 4 | 28,00,000 | 100% |
| E-Voting at the time of Meeting | 0 | 0 | 0% |
| Total | 4 | 28,00,000 |
***
In parallel, the Scrutinizer’s report for the meeting of Equity Shareholders held on July 30, 2026, confirmed that one resolution was duly approved and passed by the Members of the Company with the requisite majority.
The voting results regarding the Scheme approval among shareholders showed a unanimous endorsement during both remote e-voting and the in-meeting electronic voting process.
Among the members who cast votes for the Scheme approval:
- 31 members voted in favour via Remote E-Voting prior to the Meeting, representing 13,80,86,164 shares (100% of valid remote e-votes).
- The total participation across both voting modes reached 36 members, holding 13,81,61,834 shares.
No votes were recorded against the resolution by shareholders in either mode. The report also noted one abstained voter during the E-Voting at the time of Meeting.
| Mode of Voting | Votes in Favour | Number of Members Voted |
|---|---|---|
| Remote E-Voting prior to the Meeting | 31 | 13,80,86,164 |
| Total | 36 | 13,81,61,834 |
All registers and records related to the remote e-voting and E-voting processes were handed over to the Company Secretary for safekeeping. Both resolutions—the approval by creditors and the approval by equity shareholders—were deemed approved on July 30, 2026, allowing the merger process to continue.
ASHOKLEY Stock Price Movement
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