Hey Varun - sorry that you don't seem to have had any response... I only assume that your phone must be relatively new and there aren't so many members who have it. I am not familiar with your phone, so can only provide limited help for you.
After quite a bit of searching on the net, here is the only info I've been able to get that may be of interest to you:
I have found a tutorial on rooting the phone -
The Easiest (and the safest) way for rooting Motoroal Fire XT (2.3.4 & 2.3.5). If you confirm that this root method works, then I can add a link in the root sticky
I have also found
this thread, asking for Developers for the Moto Fire... it details rooting/unrooting various models (including yours), but it does say that there are no ROM's at present for the phone.
Sorry that this prolly isn't the answer you wanted