In compliance with Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Vikas WSP Limited hereby informs the Board Meeting Outcome for ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Vikas WSP Limited's Board (powers vested with Resolution Professional Mr. Darshan Singh Anand) approved audited standalone results for Q4 and FY25 on 28-29 May 2025. The company remains under Corporate Insolvency Resolution Process (CIRP) since February 2022. The statutory auditor (A.K. Chadda & Co.) issued a qualified opinion citing multiple issues including non-assessment of impairment on tangible assets, unconfirmed balances, absence of Fixed Asset Register, and Rs. 850 lacs of share application money pending allotment/refund. The auditor also flagged an Emphasis of Matter on going concern, noting continuous losses, current liabilities exceeding current assets, and defaults in borrowings and statutory dues. A resolution plan by M/s Arcbolt Space and Foods Pvt Ltd was approved by the Committee of Creditors in August 2022 but is still pending NCLT approval. The company also disclosed a contingent liability of Rs. 26.28 crores based on admitted claims.
Negative for shareholders — the qualified audit opinion, explicit going concern doubt, ongoing CIRP status, and pending NCLT approval of the resolution plan all indicate continued uncertainty about the company's future and potential recovery for equity holders.