XL Energy Limited has submitted its quarterly compliance certificate to BSE and NSE, confirming zero dematerialization requests during the quarter ended March 31, 2026. The certificate, issued under SEBI Regulation 74(5) of the Depositories and Participants Regulations, 2018, was prepared by the company's registrar Bigshare Services Pvt Ltd.

Regulatory Compliance Status

The quarterly filing revealed specific operational circumstances affecting the company's share dematerialization process:

Resolution Plan Implementation

XL Energy provided detailed clarification regarding its current corporate restructuring process. The company is implementing an NCLT-approved Resolution Plan under the Insolvency and Bankruptcy Code, 2016, which involves comprehensive capital restructuring and share capital reconstitution.

Key aspects of the ongoing process include:

• Capital restructuring and reconstitution of share capital underway
• Re-listing and in-principle approval processes with stock exchanges in progress
• Equity shares under Resolution Plan pending credit to shareholders' demat accounts
• Regulatory approvals still required for completion

Technical Clarification

The company emphasized that the absence of dematerialization requests stems from technical circumstances rather than operational issues. Since the shares envisaged under the Resolution Plan have not yet been credited or made available for dematerialization, no requests could technically arise during the quarter under review.

Company Information

The certificate was signed by Director Naresh Jain (DIN: 00291963) on April 14, 2026. XL Energy assured continued compliance with Regulation 74(5) once shares are credited and dematerialization requests are received in accordance with applicable regulations.