Vikram Solar NCLT admits ₹9.44 Cr IBC petition; Co. to appeal

The Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench, has admitted a petition filed by Isitva Steels Private Limited (ISPL) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Vikram Solar Limited. The petition alleges non-payment of dues amounting to approximately ₹9.44 crore, including 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 plans to appeal the NCLT order before the National Company Law Appellate Tribunal. The company asserts it remains solvent, financially sound, and fully operational, reporting a revenue of ₹4,802.25 crores and a profit-after-tax of ₹470.42 crores for fiscal 2026. It also highlights having no long-term debt as of March 31, 2026, and a strong liquidity position.