Proceeding of meeting of unsecured Creditors of Rudra Ecovation Limited
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Rudra Ecovation Ltd held its NCLT-convened meeting of unsecured creditors on February 21, 2026 via video conferencing, as directed by the NCLT Chandigarh Bench. The meeting considered the Scheme of Amalgamation of Rudra Ecovation (Transferor Company) with Shiva Texfabs Limited (Transferee Company). Remote e-voting was conducted from February 17 to February 20, 2026, and the facility to vote during the meeting was also provided. The meeting was chaired by an NCLT-appointed advocate, lasted only about 16 minutes (3:31 PM to 3:47 PM), and had the requisite quorum present. The scrutiny of votes is being handled by a practising chartered accountant, and the voting results will be announced separately within two working days.
This is a critical procedural step in the amalgamation process. If unsecured creditors approve the scheme, the deal moves closer to final NCLT sanction, potentially leading to Rudra Ecovation being absorbed into Shiva Texfabs. Shareholders should watch for the e-voting results, as creditor approval is mandatory for the scheme to proceed.