Corporate Insolvency Resolution Process

30 June 2026 VSL/CS/346/2026 dated 30.06.2026 BSE Limited. National Stock Exchange of India Ltd. Department of Corporate Services Listing Department P. J. Towers, Dalal Street, Mumbai – 400 001 Exchange Plaza, Bandra-Kurla Complex, (Scrip Code: Equity - 544488) Bandra (E), Mumbai – 400 051 (Symbol: VIKRAMSOLR, Series EQ) Dear Sir/ Madam, Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”)- Order dated 29 June 2926 passed by the Hon'ble National Company Law Appellate Tribunal Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") and in continuation of our earlier intimations dated 24 June 2026, 25 June 2026 and 29 June 2026, please find enclosed herewith a copy of the order dated 29 June 2026 passed by Hon'ble National Company Law Appellate Tribunal ("Hon'ble NCLAT"), Principal Bench, New Delhi setting aside the order dated 12 June 2026 passed by the Hon'ble National Company Law Tribunal, Kolkata Bench ("Hon'ble NCLT"), whereby the application filed by Isitva Steels Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016 ("IBC") against Vikram Solar Limited ("the Company") had been admitted. Kindly take the above information on record. Sincerely, For and on behalf of Vikram Solar Limited Sudipta Bhowal Company Secretary & Compliance Officer Encl: As above NATIONAL COMPANY LAW APPELLATE TRIBUNAL PRINCIPAL BENCH, NEW DELHI Comp. App. (AT) (Ins) No. 1087 of 2026 IN THE MATTER OF: Sameer Nagpal Suspended Director of Vikram Solar Ltd. …Appellant Versus ISITVA Steel Pvt. Ltd. & Anr. …Respondents Present: For Appellant : Mr. Abhijeet Sinha, Sr. Advocates, Mr. Diwakar Maheshwari, Mr. Kumar Saurab Singh, Mr. Aseem Chaturvedi, Mr. Dipen Chatterjee, Mr. Vishnu Sriram, Mr. Oshik Bagchi, Mr. Shivank Diddi, Mr. Shreyas Edupuganti, Mr. Ashwi Ramaih, Ms. Aaria Arekh, Mr. Kumar Anurag Singh & Mr. Zain A. Khan, Advocates. For Respondents : Mr. Ratnanko Banerjee, Sr. Advocate, Mr. Arkaj Kumar, Mr. Akshat Mittal, Mr. R. N. Ghose, S. Santa, Mr. Santanu Ghosh & Ms. Shusna Santra Advocates for R-1. Mr. Dhruv Goel, Ms. Ruchika Dhandhania, Advocates for R-2/IRP. O R D E R (Hybrid Mode) 29.06.2026 This appeal is directed against an impugned order dated 12.06.2026, passed by the Ld. NCLT, Kolkata-I, bench in C.P. (IB) No. 87/KB/2025 M/s Isitva Steels Private Limited vs. M/s Vikram Solar Limited. It is submitted by the Ld. Sr. Counsel appearing for the Appellant the main contention raised in the present Appeal is the petition under Section 9 ought not to have been admitted at the outset, as the amount of the claim was less than Rs. 1 crore and in view of Section 4 of the Insolvency and Bankruptcy Code, 2016, the petition ought not to have been admitted. The Ld. Sr. Counsel appearing for the Respondent is also present and fairly admits the overall debt was less than Rs. 1 crore. In these circumstances, the Ld. Sr. Counsel for both side agree the order of admission passed by Ld. Adjudicating Authority vide impugned order needs to be set aside. Taking the submissions of both the Ld. Counsels on record, and since it is admitted case that the due amount was less than Rs. 1 crore; the admission order dated 12.06.2026, stands set aside. Consequently, the amount of Rs. 91,98,556/- deposited by the Appellant pursuant to an order dated 24.06.2026, shall be refunded to the Appellant after due verification and in accordance with law. The settlement, if any, can be adverted to between the parties. Appeal stands disposed of. Pending applications, if any, also stands closed. [Justice Yogesh Khanna] Member (Judicial) [Naresh Salecha] Member (Technical) KS/MR