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The Economic Times

Debaroti Adhikary

Vikram Solar shares fall 3% after NCLT admits insolvency petition against the company. Here's why

Vikram Solar NCLT NCLAT ISPL

The shares of Vikram Solar dropped nearly 3% on Monday after the Kolkata bench of the National Company Law Tribunal (NCLT) admitted an insolvency petition filed by Isitva Steels Private Limited against the company over alleged dues worth Rs 9.44 crore.

In an exchange filing released on Friday, Vikram Solar said that Isitva Steels (ISPL) alleged non-payment of dues in its petition regarding civil works sub-contracted to ISPL in 2018 for a solar EPC power project being set up in Andhra Pradesh.

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