Vikram Solar: NCLAT Stays NCLT Order, Rs 91.98 Lakh Deposited

Vikram Solar Ltd has announced that the National Company Law Appellate Tribunal (NCLAT) has stayed an order passed by the National Company Law Tribunal (NCLT), Kolkata Bench. In compliance with the NCLAT order, the company has deposited ₹91,98,556 by demand draft in favor of the Pay and Accounts Officer, Ministry of Corporate Affairs, New Delhi. This deposit is intended as a full and final settlement of the claim by the operational creditor, Isitva Steel Private Limited. The NCLAT order follows a previous settlement agreement where a total of ₹4,60,49,000 was agreed upon, with ₹4,14,00,000 and an additional ₹70 lakhs already paid. The company is actively pursuing an expeditious closure of the proceedings. The next hearing is scheduled for June 29, 2026.