Visa Steel Limited has informed the Exchange about General Updates
VISACHROME · price
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The National Company Law Tribunal (NCLT), Cuttack Bench, has allowed the withdrawal of the application seeking to initiate Corporate Insolvency Resolution Process (CIRP) against VISA Steel Limited. The CIRP was originally admitted by the NCLT on 28 November 2022 but was stayed by the Orissa High Court on 21 December 2022. With this latest order dated 26 September 2025, the CIRP proceedings against the company stand formally closed. The company informed both BSE and NSE under Regulation 30 of the SEBI Listing Regulations.
This is a positive development for shareholders — the long-pending insolvency cloud over VISA Steel has been formally lifted, which could ease banking and operational constraints and may improve investor sentiment around the stock.