Submission of Annual Report of the company for the financial year 2023-24.
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On the reaction day the stock moved 1.8 pts more than Nifty Microcap 250 and 1.6 pts more than its Other Agricultural Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Vikas WSP Ltd has submitted its Annual Report for FY 2023-24 to BSE along with the notice for its 36th Annual General Meeting, scheduled for August 30, 2025 at 12:00 PM via video conferencing. The company has been under Corporate Insolvency Resolution Process (CIRP) since February 2, 2022, following a petition by Bank of India, and its board powers remain suspended with Mr. Darshan Singh Anand acting as Resolution Professional. A resolution plan submitted by M/s Arcbolt Space and Foods Private Limited was approved by the Committee of Creditors in August 2022, but NCLT approval is still pending. Key agenda items include adoption of FY24 audited financial statements and reappointment of Mr. Pawan Singla as a director. The company also saw changes in its internal auditor (to Gambhir Khurana & Associates in August 2024) and Company Secretary (Saroj Kumar Senapati appointed in March 2025), while the CFO position has been vacant since March 2021.
The stock remains heavily overshadowed by the ongoing CIRP, and the NCLT's pending decision on the Arcbolt Space and Foods resolution plan is the single biggest catalyst for shareholders. Until the plan is approved or rejected, business operations and equity value remain uncertain, and existing shareholders' recovery will depend on the terms finally approved by the tribunal.