NCLAT Orders Proceedings Stayed for Vikram Solar Ltd after Deposit of Settlement Amount to Operational Creditor

NCLAT Orders Proceedings Stayed for Vikram Solar Ltd after Deposit of Settlement Amount to Operational Creditor​

Vikram Solar Ltd has deposited a sum of Rs. 91,98,556/- in favor of the Pay and Accounts Officer, Ministry of Corporate Affairs, New Delhi, following an order by the National Company Law Appellate Tribunal (NCLAT). This deposit addresses the claim of operational creditor Isitva Steel Private Limited.

The NCLAT, operating out of Principal Bench, New Delhi, issued the order on 24 June 2026. The decision resulted in a stay of a prior order passed by the National Company Law Tribunal (NCLT) Kolkata Bench dated 12 June 2026. The payment was made through a demand draft and is intended for the full and final settlement of Isitva Steel Private Limited's claim against the company.

Vikram Solar Ltd continues to pursue an expeditious closure of the proceedings as per applicable legal processes. The next date of hearing in this matter has been set for 29 June 2026.

Settlement Details and Financial Context​

The settlement related to the operational creditor includes previous payments made by Vikram Solar Ltd. toward the claim. According to details provided, earlier parties had agreed to a settlement amount of Rs. 4,60,49,000/- (Rupees Four Crores Sixty Lakhs Forty-Nine Thousand only). Out of this total agreed amount, Rs. 4,14,00,000/- was previously paid.

Additionally, another sum of Rs. 70 lakhs was paid to the Operational Creditor. The operational creditor had acknowledged a liability limit of Rs. 91,98,556/ via an email dated 04.02.2023, which corresponds to the amount recently deposited by Vikram Solar Ltd.

Company Profile and Market Standing​

The resolution process involves a company with significant operational scale. Vikram Solar is reported to be a listed company with an approximate market capitalization of Rs. 9,000 Crores. The company generates revenue exceeding Rs. 4,800 Crores and maintains an active workforce of approximately 3,500 employees.

The NCLAT order noted that the initiation of insolvency proceedings could negatively impact not only the financial aspects of the company but would also cast a shadow on its otherwise good financial reputation.

VIKRAMSOLR Stock Price Movement​

Today, shares of Vikram Solar Limited shed 2.80%, closing at ₹184.89 after the stock lost ₹5.33 during the trading session. The equity traded a total volume of 1.57 million shares as it settled in the post-market period.