Vikram Solar faces ₹9.44 Cr insolvency plea; plans appeal

The Hon ’ble NCLT, Kolkata Bench, has admitted an application filed by Isitva Steels Private Limited (ISPL) under Section 9 of the IBC against Vikram Solar Limited, alleging non-payment of approximately ₹9.44 crore (including ₹4.21 crore interest) for civil works sub-contracted in 2018. Ms. Tripti Agarwal has been appointed as the Interim Resolution Professional. Vikram Solar vigorously disputes the claim, citing a full and final settlement agreement from December 2019, and is in the process of filing an appeal with the NCLAT. The company asserts it remains solvent, financially sound, and fully operational, highlighting its FY26 revenue of ₹4,802.25 crore and PAT of ₹470.42 crore. It also noted no long-term debt, a low debt-to-equity ratio of 0.03, and strong liquidity, with lenders confirming standard accounts.