VXL Instruments Files Application for Modified Resolution Plan

VXL Instruments Ltd has filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC) with the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench. This filing seeks approval for modified clauses of the previously approved Resolution Plan. The original plan, approved on September 9, 2026, contemplated the merger of NG Organics Private Limited (the Successful Resolution Applicant - SRA) with VXL Instruments. However, a directive from the NCLT stipulated that the merger must follow procedures under the Companies Act, 2013, rendering the original merger-dependent clauses unworkable. The SRA has funded the entire consideration under the Resolution Plan, and the proposed modifications do not alter the financial or commercial terms agreed upon by the Committee of Creditors. The management of VXL Instruments remains with the Monitoring Committee until further directions from the NCLT.