Legal18 May 2026, 03:14 pm
Vikas WSP: NCLT Hearing on Resolution Plan Adjourned to May 20
AI Summary
Vikas WSP Ltd announced that the hearing for IA (I.B.C.) No. 1538/2022, concerning the approval of the Resolution Plan, was adjourned due to time constraints by the National Company Law Tribunal (NCLT), Chandigarh Bench. The hearing is now scheduled for May 20, 2026. However, IA (I.B.C.) No. 764/2022, related to Section 19(2) Application seeking cooperation, was heard, and the tribunal is currently hearing arguments from the respondents. Vikas WSP is undergoing corporate insolvency resolution process since February 2, 2022, with its affairs managed by the Resolution Professional, Mr. Darshan Singh Anand.
Key Highlights
- NCLT hearing for Resolution Plan approval (IA 1538/2022) adjourned to May 20, 2026.
- Hearing for cooperation application (IA 764/2022) held; respondents' arguments ongoing.
- Vikas WSP is under corporate insolvency resolution process since February 2022.
- Resolution Professional managing affairs as per IBC, 2016.
Price Impact
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