Vikas WSP Limited , a company currently under Corporate Insolvency Resolution Process (CIRP), has provided an update on its ongoing proceedings with the National Company Law Tribunal (NCLT). The company, which has been under CIRP since February 2, 2022, is awaiting approval for its Resolution Plan.

NCLT Hearing Update

The NCLT Chandigarh Bench heard arguments on July 23, 2025, regarding the approval of the Resolution Plan under application IA (I.B.C.) No. 1538/2022. Initially scheduled for July 22, 2025, the hearing took place on July 23, 2025, where arguments were heard at length. Following the proceedings, the hearing has been adjourned to August 19, 2025, for further deliberation.

Company Management

Since the initiation of CIRP on February 2, 2022, Vikas WSP Limited's affairs have been managed by Resolution Professional Mr. Darshan Singh Anand. Mr. Anand, who holds IP Registration No. IBBI/IPA-002/IPN00326/2017-2018/10931, was initially appointed by the NCLT as the Interim Resolution Professional. His appointment was subsequently continued by the committee of creditors in its meeting held on March 17, 2022.

Regulatory Compliance

In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR), Vikas WSP Limited has duly informed the BSE Limited about these developments. The company's scrip code is 519307, and it trades under the ISIN INE706A01022.

Looking Ahead

As the company awaits the next hearing on August 19, 2025, stakeholders will be keenly watching for any decisions that may impact the future of Vikas WSP Limited. The outcome of this NCLT proceeding could significantly influence the company's path forward post the insolvency resolution process.

Investors and interested parties can find more information on the company's website at www.vikaswspltd.in , where this disclosure will also be uploaded as per regulatory requirements.

Note: This article is based on the latest available information as of July 24, 2025, and the situation may evolve as further developments occur.

Vikas WSP Limited , a company currently undergoing Corporate Insolvency Resolution Process (CIRP), has provided an update on its ongoing legal proceedings. The company, which has been under CIRP since February 2, 2022, recently faced a hearing at the National Company Law Tribunal (NCLT) Chandigarh Bench regarding the approval of its Resolution Plan.

NCLT Hearing Details

The NCLT Chandigarh Bench heard arguments on July 23, 2025, concerning the approval of the Resolution Plan under application IA (I.B.C.) No. 1538/2022. This hearing was initially scheduled for July 22, 2025, but took place a day later. After lengthy deliberations, the tribunal has adjourned the hearing, setting the next date for August 19, 2025.

Company Management During CIRP

Since the initiation of the CIRP on February 2, 2022, Vikas WSP Limited's affairs have been managed by Resolution Professional Mr. Darshan Singh Anand. Mr. Anand, who holds the IP Registration No. IBBI/IPA-002/IPN00326/2017-2018/10931, was initially appointed by the NCLT as the Interim Resolution Professional. His position was subsequently confirmed by the committee of creditors, continuing his role as the Resolution Professional.

Disclosure and Compliance

In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR), Vikas WSP Limited has duly informed the BSE Limited about these developments. The company's scrip code is 519307, and it trades under the ISIN INE706A01022.

Saroj Kumar Senapati, the Company Secretary & Compliance Officer (M. No.: F2898), has stated that this information will also be made available on the company's official website ( www.vikaswspltd.in ).

Implications and Next Steps

The adjournment of the NCLT hearing to August 19, 2025, extends the period of uncertainty for Vikas WSP Limited's stakeholders. The outcome of this hearing could significantly impact the company's future operations and financial structure. Interested parties, including investors and creditors, will be closely watching the proceedings as they unfold in the coming weeks.

As the company continues to operate under the CIRP framework, all decisions regarding its business, assets, and affairs remain under the purview of the Resolution Professional, with the powers of the board of directors currently suspended.