NCLT approves modified resolution plan without merger
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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NCLT Mumbai approved VXL Instruments' modified resolution plan, removing the proposed merger with NG Organics because it was not workable. The successful applicant, a consortium of NG Organics and Nitinbhai Govindbhai Patel, funded the full Rs 7 crore bid, including a Rs 5.59 crore balance paid on September 19, 2026. Bid value, creditor rights and implementation timelines remain unchanged.
The approval advances the resolution process and removes merger-related uncertainty, but the revised plan still needs to be implemented.