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VXL Instruments secures NCLT approval for revised resolution plan, retaining Rs 7 crore bid value
26-Oct-2026, 06:02
VXL Instruments Limited received approval from the National Company Law Tribunal, Mumbai Bench, for a modified resolution plan, replacing a merger with NG Organics Private Limited and Nitinbhai Govindbhai Patel with a revised implementation mechanism. The modification, which does not alter the total bid value of Rs 7 crore, creditor entitlements, priorities, or implementation timelines, was sought to avoid delays and uncertainty related to the merger, which was initially part of the approved resolution plan. The Consortium of NG Organics Private Limited and Nitinbhai Govindbhai Patel had previously funded Rs 7 crore to implement the plan.