NCLAT has stayed insolvency proceedings against Vikram Solar, directing the company to deposit Rs 91.98 lakh operational debt. This follows an NCLT order.
New Delhi, Jun 25 (PTI) The National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings against Vikram Solar and directed the company to deposit the entire admitted operational debt of Rs 91.98 lakh till the next hearing.
During the proceedings, Vikram Solar offered to deposit the entire admitted operational debt of about Rs 92 lakh, which was accepted by a two-member bench of the appellate tribunal.
Counsel appearing for the operational creditor and the interim resolution professional informed the appellate tribunal that they had no objection to the company’s…