Body-Annual Report for the FY 2024-25 and notice of 38th AGM
Awaiting price reaction for this filing.
XL Energy Limited has filed its Annual Report for FY 2024-25 along with the notice for its 38th AGM, scheduled for December 31, 2025 at 4:00 PM via video conferencing. The company recently emerged from the Corporate Insolvency Resolution Process (CIRP), with the NCLT approving the resolution plan submitted by a consortium led by Ms. Karishma Jain, Jupiter City Developers, and Adwaita Navigations on April 19, 2024. Following an NCLT order dated May 2, 2025, the company's shares were moved from the 'Delisted' to the 'Suspended' category on BSE and NSE effective May 28, 2025, as part of the relisting process. AGMs for FY 2022-23 and FY 2023-24 could not be held due to CIRP-related constraints, making this a delayed catch-up AGM. Key resolutions include appointment of M/s. Pavuluri & Co. as new statutory auditor for 5 years, change in designation of Ms. Karishma Jain to Executive Director, and ratification of multiple director appointments made under the resolution plan.
For shareholders, the AGM marks a key governance reset post-insolvency, but trading in the stock remains restricted in the 'Suspended' category as the company works toward full relisting compliance. The appointment of a new statutory auditor and formalization of the new board signals the company is moving toward operational normalcy, though investors should watch for updates on relisting approval before resuming active trading.