XL Energy Limited has informed the Exchange regarding outcome and Proceedings 38th of Annual General Meeting held on December 31, 2025, at 4:00 PM. through VC/OAVM.
Awaiting price reaction for this filing.
XL Energy Limited held its 38th Annual General Meeting on December 31, 2025, at 4:00 PM via video conferencing, concluding at 4:17 PM. 39 members attended, chaired by Non-Executive Director Naresh Jain. The Chairman noted the company is operating under an NCLT-approved Resolution Plan and faces compliance constraints due to prior delisting/suspension and the IBC process. Nine ordinary resolutions were tabled, including adoption of FY25 audited financials, re-appointment of Ms. Karishma Jain as a rotating director, appointment of M/s. Pavuluri & Co. as new Statutory Auditor for 5 years, and her change in designation from Non-Executive to Executive Director (also CFO). Members approved the appointment of several directors including Whole-Time and Independent Directors, and M/s. Suprabhat & Co. as Secretarial Auditor. No questions were raised by members, and e-voting results will be declared within the stipulated timeframe.
This is largely a procedural AGM outcome with no major surprises. Shareholders should note the change of Ms. Karishma Jain to Executive Director/CFO and the switch to a new statutory auditor (Pavuluri & Co.), which signals a new operating phase post the NCLT Resolution Plan. The company's references to delisting/suspension and IBC suggest it is still in a recovery mode, which may keep the stock thinly traded and limit near-term price action.