Vikas WSP Limited has fulfilled its regulatory compliance obligations by submitting the mandatory certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The submission was made to BSE Limited on April 13, 2026, as part of the company's ongoing regulatory requirements.

Regulatory Compliance Details

The certificate was issued by MUFG Intime India Private Limited (formerly Link Intime India Private Limited), which serves as the company's Registrar and Share Transfer Agent. The compliance relates to Regulation 74(5) of SEBI regulations, which governs the dematerialisation process and related procedures.

Certificate Confirmation

MUFG Intime India Private Limited confirmed that securities received from depository participants for dematerialisation during the quarter were properly processed within prescribed timelines. The certificate states that all securities received for dematerialisation were confirmed or rejected appropriately, and security certificates were mutilated and cancelled after due verification.

Key confirmations included in the certificate:

• Securities received for dematerialisation were confirmed to depositories
• Securities are listed on stock exchanges where earlier issued securities are listed
• Security certificates were properly mutilated and cancelled after verification
• Depository names were substituted in the register of members as registered owners

Corporate Status Update

Vikas WSP Limited continues to operate under Corporate Insolvency Resolution Process (CIRP) pursuant to the Insolvency and Bankruptcy Code, 2016. The company has been under this process since February 2, 2022, when the National Company Law Tribunal, Chandigarh Bench appointed Mr. Darshan Singh Anand as the Interim Resolution Professional.

Mr. Anand was later continued as Resolution Professional by the committee of creditors in their meeting held on March 17, 2022. During this period, the company's affairs, business and assets are being managed by the Resolution Professional, with the powers of the board of directors vested in the appointed professional.

Company Information

Vikas WSP Limited is based in Sriganganagar with its registered office at B-86/87, Udyog Vihar, RIICO, Industrial Area. The company maintains HACCP registration and accreditation credentials. Saroj Kumar Senapati serves as the Company Secretary and Compliance Officer, handling the regulatory submissions during the CIRP period.

Vikas WSP Limited announced its unaudited financial results for the quarter ended December 31, 2025, following the board meeting held on February 13, 2026. The company reported a net loss of ₹872.48 lakhs for Q3FY26, compared to a net loss of ₹870.77 lakhs in the corresponding quarter of the previous year.

Q3FY26 Financial Performance

The company's financial performance for the third quarter reflects its ongoing operational challenges under the Corporate Insolvency Resolution Process (CIRP). Total income from operations stood at ₹6.22 lakhs, derived entirely from other income, as the company reported no revenue from operations during the quarter.

Nine-Month Performance Overview

For the nine months ended December 31, 2025, the company recorded a total income of ₹17.36 lakhs against total expenses of ₹2,643.28 lakhs, resulting in a net loss of ₹2,625.92 lakhs. This compares to a net loss of ₹2,620.33 lakhs for the corresponding nine-month period in the previous year.

Corporate Insolvency Resolution Process Status

Vikas WSP Limited continues to operate under CIRP, which commenced on February 2, 2022, following an order from the National Company Law Tribunal (NCLT), Chandigarh Bench. Mr. Darshan Singh Anand serves as the Resolution Professional, having been confirmed by the Committee of Creditors on March 17, 2022.

Auditor's Qualified Opinion

A.K. Chadda & Co., the company's auditors, issued a qualified review report highlighting several concerns. The auditors noted that the company has not assessed impairment of tangible assets as required by Indian Accounting Standards, and comprehensive review of assets and liabilities remains pending due to incomplete handover of records by previous management.

Key Operational Challenges

The company faces significant operational constraints, including incomplete access to historical records due to a ransomware attack that affected data before April 1, 2021. The Resolution Professional has filed an application under Section 19(2) of the Insolvency and Bankruptcy Code to enforce rights to information from the erstwhile management.

The company's earnings per share stood at ₹(0.43) for Q3FY26, with a paid-up equity share capital of ₹2,044.40 lakhs. The financial results were prepared under the going concern basis, pending approval of the resolution plan by NCLT.