Legal11 Sept 2026, 02:00 pm
NCLT Approves VXL Instruments Resolution Plan
AI Summary
The National Company Law Tribunal (NCLT), Mumbai Bench, has approved the Resolution Plan for VXL Instruments Limited. The plan, submitted by Consortium of NG Organics Private Limited and Mr. Nitinbhai Govindbhai Patel, was unanimously approved by the Committee of Creditors. Importantly, the approved plan includes provisions for the company to remain listed on the stock exchange, with no proposal for delisting of existing equity shares.
Key Highlights
- NCLT approves resolution plan for VXL Instruments.
- Consortium of NG Organics and Nitinbhai Patel is the Successful Resolution Applicant.
- Company will continue to be listed on the stock exchange.
- No delisting of existing equity shares is proposed.
- Corporate Insolvency Resolution Process commenced in November 2024.
Price Impact
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