Vikram Solar Limited’s corporate insolvency process has begun following an NCLT order admitting a petition by Isitva Steels Private Limited for ₹9.44 crore in unpaid dues. Management control shifts to an Interim Resolution Professional.
Vikram Solar Limited faces a Corporate Insolvency Resolution Process (CIRP) after the National Company Law Tribunal (NCLT), Kolkata Bench, admitted an application by Isitva Steels Private Limited. The petition cited unpaid dues of ₹9.44 crore related to sub-contracting work.
Default Amount: ₹9.44 crore (₹9,44,12,332)
Principal Claim: ₹5.22 crore (₹5,22,25,343)
Interest Claim (14% p.a.): ₹4.21 crore (₹4,21,86,989)
Reader Takeaway: Insolvency admission raises operational uncertainty; monitor…