Annual Secretarial Compliance Report for the year ended March, 31 2026
Awaiting price reaction for this filing.
XL Energy Ltd has submitted its Annual Secretarial Compliance Report for FY2025-26, certified by Practicing Company Secretary Suprabhat Chakraborty. The report identifies several compliance deviations during the review period. The company was under a Resolution Plan approved by NCLT, with governance oversight exercised by a Monitoring Committee rather than the Board — no Board meetings were held during the period. Key non-compliances include: (1) No functional website maintained; (2) Insider Trading Regulations (SEBI 3(5) & 3(6)) not yet implemented; (3) No Board-level performance evaluations conducted; (4) Key Managerial Personnel vacancies not filled within the mandated timeline (up to 27 November 2025). The company's status changed from Delisted to Suspended w.e.f. 28 May 2025. An appeal by NSE before NCLAT is currently pending. The compliance status is described as being "progressively aligned."
The qualified secretarial report signals ongoing governance gaps and regulatory non-compliance during the company's resolution plan transition. Pending NCLAT appeal outcome remains a key risk factor. Shareholders should monitor whether KMP appointments and policy implementations are completed post-stabilization.