Vikas WSP Ltd — Others, 05-08-2025: Others

Vikas WSP Limited, currently undergoing a Corporate Insolvency Resolution Process (CIRP), has announced its Annual General Meeting to adopt the audited financial results for FY2023-24. The company reported a loss of ₹26.45 Cr (₹35.49 Cr before tax) with no operational revenue due to production halt since September 2020. Its Resolution Plan is awaiting NCLT approval. The company faces significant contingent liabilities, including ₹278 Cr from a legal claim and ₹40.50 Cr in corporate guarantees. There are substantial defaults on bank loans totaling ₹97.24 Cr in principal and ₹77.80 Cr in interest. Auditors highlighted concerns about incomplete records and ongoing going-concern uncertainties.