VXL Instruments Ltd — Updates, 26-05-2025: Company Update

VXL Instruments Limited is under Corporate Insolvency Resolution Process (CIRP) as per a National Company Law Tribunal order. The Interim Resolution Professional (IRP) has been appointed as the Resolution Professional (RP), replacing the Board of Directors and associated committees during this process. The RP Committee will consider and approve the audited financial results for the financial year. This shift means resolution professionals now handle key governance and financial approvals, which impacts how the company’s operations and compliance are managed during insolvency, directly affecting stakeholders and creditors.