VXL Instruments Limited has submitted its quarterly compliance certificate for the quarter and year ended 31st March 2026 to BSE Limited. The filing was made in accordance with Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.

Corporate Insolvency Resolution Process Status

The company is currently operating under Corporate Insolvency Resolution Process (CIRP) following an order passed by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench on 26th November 2024. The compliance certificate was submitted by Resolution Professional Jayanti Lal Jain, who is overseeing the company's operations during the insolvency proceedings.

Compliance Certificate Details

The compliance certificate was issued by Bigshare Services Private Limited, which serves as the company's Registrar and Share Transfer Agent (RTA). The certificate confirms compliance with dematerialization requirements and regulatory obligations for the specified period.

Key aspects covered in the compliance certificate include:

• Securities received from depository participants for dematerialization up to 31st March 2026 were duly confirmed
• Securities comprised in the certificates have been listed on the stock exchange
• Security certificates received for dematerialization have been mutilated and cancelled after due verification
• Names of depositories have been substituted in the register of members as registered owners within the prescribed 15-day timeline

Company Information

VXL Instruments Limited operates from its registered and corporate office located at VO-838, We work Vaswani Chambers, 2nd Floor, 264-265, Dr. Annie Besant Road, Shivaji Nagar, Municipal Colony, Worli, Mumbai. The company trades on BSE under the symbol 517399 and holds CIN L85110MH1986PLC272426.

Resolution Professional Contact Details

The Resolution Professional Jayanti Lal Jain can be contacted at his office located at 708, 7th Floor, Raheja Centre, Nariman Point, Mumbai City, Maharashtra. The CIRP-related communications are being handled through dedicated email channels established for the insolvency proceedings.

VXL Instruments Limited has released its unaudited financial results for the third quarter of fiscal year 2026, covering the period ended December 31, 2025. The announcement comes as the company continues to operate under the Corporate Insolvency Resolution Process (CIRP), which commenced following an order from the Hon'ble National Company Law Tribunal (NCLT) Mumbai Bench on November 26, 2024.

Resolution Professional Committee Meeting

The quarterly results were formally approved during a Resolution Professional Committee meeting held on February 14, 2026, from 3:00 PM to 4:15 PM. This meeting was conducted in lieu of the suspended Board of Directors, with Resolution Professional Jayanti Lal Jain overseeing the proceedings. The meeting focused on taking the unaudited standalone financial results on record pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Insolvency Resolution Process Status

VXL Instruments Limited entered CIRP under the provisions of the Insolvency and Bankruptcy Code, 2016. The company's Board of Directors powers have been suspended and are currently being exercised by the appointed Resolution Professional. Jayanti Lal Jain serves as the Resolution Professional, with registration number IBBI/IPA-001/IP-P-01792/2019-2020/12845 and AFA validity until June 30, 2027.

Auditor's Disclaimer and Key Concerns

YCRJ & Associates, the company's statutory auditors, have issued a disclaimer of conclusion regarding the Q3 FY26 financial results. The auditors highlighted several significant concerns that prevented them from expressing a conclusion on the financial statements:

Financial Position Challenges

The auditors identified multiple areas of concern in their review:

• Bank Account Verification: Unable to obtain account statements or direct balance confirmations for one bank account under "Cash and Cash Equivalents" with a carrying value of Rs. 95,733 as of December 31, 2025
• GST Input Credit: Other Current Assets include Goods and Service Tax Input Credit worth Rs. 0.87 crore related to the company's erstwhile trading division, which has ceased operations and remains outstanding for over two years
• Going Concern Issues: The company has incurred losses in both current and previous years, faces challenges meeting obligations and servicing current liabilities including employee and statutory dues

Regulatory Compliance

Despite operating under CIRP, VXL Instruments continues to fulfill its regulatory obligations under SEBI listing requirements. The company submitted its unaudited financial results along with the Limited Review Report by statutory auditors to BSE Limited, where it trades under scrip code 517399. The results were prepared in accordance with Indian Accounting Standard 34 (Ind AS 34) for Interim Financial Reporting.

The financial results have been prepared on a going concern basis, anticipating a successful outcome of the resolution proposal currently under consideration through the CIRP process. However, the auditors have expressed material uncertainty regarding the company's ability to continue as a going concern given its current financial and operational challenges.