Vikas WSP Ltd — Board Meeting, 29-05-2025: Board Meeting

Vikas WSP Limited has announced a board meeting approving the audited financial results for the quarter and financial year ended March 31, 2025. The Company is under Corporate Insolvency Resolution Process (CIRP), with the Resolution Professional managing its affairs. The audit report carries a modified opinion due to unavailability of complete records caused by a ransomware attack and unresolved asset impairments. Significant uncertainties exist regarding asset valuations, pending reconciliations of creditor claims, unaddressed share application money of Rs. 85 million, and lack of fixed asset register details. The company continues to incur losses with liabilities exceeding assets, raising doubts on its ability to continue as a going concern. The Board recommended reappointment of M/s Gambhir Khurana & Associates as Internal Auditors and Ms. Seema Sharma for Secretarial Audit for FY 2025-26, subject to shareholder approval.