Vipul Ltd Legal Dispute Update

Disputed claim amount: Rs 1.73 crore; Company-acknowledged liability: Rs 58.44 lakh.

Reader Takeaway: Vipul Ltd claims the loan agreement was superseded by settlement, while creditors pursue execution across four jurisdictions.

What just happened

Vipul Ltd has issued a regulatory disclosure regarding a long-standing dispute with S.K. Dudhoria Holdings Private Limited (SKDHPL). The company originally borrowed Rs 2.40 crore as an unsecured inter-corporate loan in the 2015-16 fiscal year. While Vipul Ltd maintains it repaid Rs 2.10 crore, the two parties are now locked in legal proceedings over the remaining balance.

Why this matters

The company faces a significant variance in liability. Vipul Ltd asserts that a settlement agreement signed in April 2025 capped its total liability at Rs 58.44 lakh. Conversely, SKDHPL has initiated execution proceedings in courts across Delhi, Calcutta, Bhubaneswar, and Gurugram, claiming Rs 1.73 crore plus interest. The final court ruling will determine the actual financial impact on the company’s balance sheet.

The backstory

Following original loan terms and later revisions in 2021 and 2022, the parties attempted a settlement on April 14, 2025. Vipul Ltd states that it issued post-dated cheques to fulfill this settlement, but alleges these were never presented for payment by the lender, leading to the current execution filings.

What changes now

Vipul Ltd has challenged court orders from May and June 2026 before the Delhi High Court. The company’s legal team argues that the 2025 settlement agreement novated (superseded) the original loan award, effectively extinguishing the higher claim.

Risks to watch

Investors should monitor the outcome of the petition (CM(M) No. 1548/2026) in the Delhi High Court. The multiplicity of jurisdictions—Calcutta, Saket, Bhubaneswar, and Gurugram—increases legal complexity and potential costs for the company as it defends against execution petitions.