BHEL seeks shareholder nod to amend JV, subsidiary investment rules

Bharat Heavy Electricals Limited (BHEL) has issued a Postal Ballot Notice to its members dated November 18, 2025, proposing an amendment to Article 69(22) of its Articles of Association. This special resolution aims to update the company's ability to establish Joint Ventures and Subsidiaries in India or abroad and divest shareholding in these entities, subject to compliance with government guidelines. This change supersedes the existing clause, which was based on "Navratna" status and limited equity investment to 15% of net worth in one project and 30% of net worth across all projects.

The remote e-voting period for this resolution will commence on Wednesday, November 19, 2025, at 9:00 AM (IST) and conclude on Thursday, December 18, 2025, at 5:00 PM (IST). The results of the Postal Ballot are expected to be declared on or before Saturday, December 20, 2025. This move aligns BHEL's corporate governance with its current status and evolving government directives.

The board of directors of BHEL has recommended this resolution for shareholder approval. Sachin Agarwal of M/s Agarwal S. & Associates, Practising Company Secretaries, has been appointed as the scrutinizer for the postal ballot process.