Outcome of fourth Monitoring Committee meeting of the company held on 25th July, 2025
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Viksit Engineering's Monitoring Committee met on 25 July 2025 and approved key post-resolution steps. It took on record the complete handover of the company to the Successful Resolution Applicant. The Committee approved its own dissolution, noting that the approved Resolution Plan dated 11 February 2025 under the Insolvency and Bankruptcy Code, 2016, has been successfully implemented. It also delegated ongoing statutory and legal compliance duties to the newly designated Board. Additionally, the erstwhile Resolution Professional and/or Committee Chairperson were authorised to file applications before the NCLT seeking confirmation of the successful implementation.
This is a positive development for shareholders — the company has effectively completed its insolvency resolution process, new management has formally taken over, and the NCLT confirmation will mark full closure of the CIRP. It signals a clean slate and likely resumption of normal business operations under the new promoter.