The National Company Law Appellate Tribunal (NCLAT) has stayed insolvency proceedings against Vikram Solar. This relief comes shortly after the NCLT admitted a petition filed by Isitva Steels over alleged dues worth approximately ₹9.44 crore, a claim the solar module manufacturer is actively disputing.
What Happened
The National Company Law Appellate Tribunal (NCLAT) has put a hold on the Corporate Insolvency Resolution Process (CIRP) initiated against Vikram Solar Limited. This decision provides immediate relief to the company by pausing the action taken by the Kolkata bench of the National Company Law Tribunal (NCLT) on June 19, 2026. The NCLT had initially admitted a petition filed by an operational creditor, Isitva Steels, to begin…