Vikram Solar Ltd has filed an appeal before the National Company Law Appellate Tribunal (NCLAT) challenging an order of the Kolkata bench of the National Company Law Tribunal (NCLT) that admitted an insolvency petition against the company. The appeal has been filed even as the Corporate Insolvency Resolution Process (CIRP) has commenced, with the Interim Resolution Professional (IRP) issuing a public invitation for claims from stakeholders.
The insolvency case arises from a payment dispute with operational creditor Isitva Steels Private Limited, which claimed outstanding dues of Rs 9.44 crore related to subcontracting work executed for an Andhra Pradesh Power Generation Corporation (APGENCO) solar project, where Vikram Solar…