VXL Instruments Limited has informed the Exchange regarding the Outcome of the 10th meeting of Committee of Creditors held on 12th May 2025
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Awaiting price reaction for this filing.
VXL Instruments Limited, currently undergoing Corporate Insolvency Resolution Process (CIRP) following an NCLT Mumbai Bench order dated 26 November 2024, held its 10th meeting of the Committee of Creditors on 12 May 2025. The meeting was conducted at Nariman Point, Mumbai, both in-person and via audio/video conferencing, lasting just 30 minutes from 2:00 PM to 2:30 PM. The filing was signed by the Resolution Professional, Jayanti Lal Jain (IBBI registration: IBBI/IPA-001/IP-P-01792/2019-2020/12845). No specific resolution or agenda outcome has been disclosed in this filing. The fact that this is already the 10th CoC meeting indicates the insolvency process has been ongoing for an extended period.
For shareholders, this filing confirms that the insolvency process is still active and ongoing, with no clear end in sight. The lack of disclosed outcome and the brevity of the meeting suggest no major breakthrough in the resolution process, which is typically negative for equity holders who may face significant dilution or write-off as creditors are prioritized.