Vikas WSP Ltd: NCLT Proceedings Update

Resolution Plan Approval Hearing Deferred; Cooperation Application Heard

The National Company Law Tribunal (NCLT) Chandigarh Bench has deferred the hearing for the approval of Vikas WSP Ltd's Resolution Plan. The application, IA (I.B.C.) No. 1538/2022, was not taken up due to paucity of time.

Reader Takeaway: Resolution process ongoing; investors await plan approval.

What just happened

Vikas WSP Ltd informed the stock exchanges about the status of ongoing cases at the National Company Law Tribunal (NCLT), Chandigarh Bench. The hearing for the approval of the company's Resolution Plan (IA (I.B.C.) No. 1538/2022) was postponed. Additionally, arguments for a Cooperation Application (IA (I.B.C.) No. 764/2022) were heard, with submissions noted from various respondents.

Why this matters

The approval of the Resolution Plan is a critical step towards the conclusion of the Corporate Insolvency Resolution Process (CIRP). The deferral indicates that the process is still ongoing, and investors will need to wait longer for a potential resolution.

The backstory

Vikas WSP Ltd has been under CIRP since February 2, 2022, as per the Insolvency and Bankruptcy Code, 2016. Mr. Darshan Singh Anand is managing the company's affairs as the Resolution Professional. The NCLT proceedings are central to the company's future.

What changes now

No immediate change in the company's operational status. The focus remains on the upcoming NCLT hearing scheduled for July 8, 2026, where both the Cooperation Application and the Resolution Plan approval will be further addressed.

Risks to watch

Any further delays or adverse decisions by the NCLT could impact investor sentiment and the company's future prospects. The uncertainty surrounding the resolution plan's approval remains a key risk.

Peer comparison

Companies undergoing CIRP often face prolonged legal and procedural timelines. The NCLT process is standard for such situations, but the duration can vary significantly.

Context metrics (time-bound)

Both matters, IA (I.B.C.) No. 764/2022 and IA (I.B.C.) No. 1538/2022, have been listed for further hearing on 08th July 2026.

What to track next

Investors should closely monitor the NCLT hearing on July 8, 2026, for any significant developments regarding the Resolution Plan approval.