The Corporate Insolvency Resolution Process (CIRP) for Vikas WSP Ltd. commenced on 02.02.2022. The Income Tax Department (Applicant) initially lodged claims of ₹192.55 crores, which were admitted by the Resolution Professional (RP). Subsequently, assessment/reassessment orders passed during the moratorium period led to an updated claim of ₹268.73 crores (an increase of ₹76.17 crores) submitted on 16.09.2025. The RP, Darshan Singh Anand (Respondent), rejected this updated claim on 23.09.2025, asserting that claims based on assessment orders passed during the moratorium period could not be considered in the CIRP. The Resolution Plan for the Corporate Debtor had already been approved by the Committee of Creditors (CoC) on 25.08.2022 and was pending approval by the
…The Corporate Insolvency Resolution Process (CIRP) of Vikas WSP Limited commenced on 02.02.2022.
A public announcement for claims was issued on 04.02.2022, with the last date for submission of claims being 16.02.2022.
The Income Tax Department initially lodged claims aggregating to ₹192.55 crores on 15.02.2022 and 22.03.2022, which were duly admitted by the Resolution Professional.
Subsequent assessment/reassessment orders under the Income Tax Act, 1961, passed during the moratorium period, led to additional tax demands.
An updated claim of ₹268.73 crores (reflecting an increase of ₹76.17 crores) was submitted by the Dy. Commissioner of Income Tax, Hisar, on 16.09.2025.
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Corporate Insolvency…
Public announce…
The Corporate Insolvency Resolution Process (CIRP) for Vikas WSP Ltd. commenced on 02.02.2022. The Income Tax Department (Applicant) initially lodged claims of ₹192.55 crores, which were admitted by the Resolution Professional (RP). Subsequently, assessment/reassessment orders passed during the moratorium period led to an updated claim of ₹268.73 crores (an increase of ₹76.17 crores) submitted on 16.09.2025. The RP, Darshan Singh Anand (Respondent), rejected this updated claim on 23.09.2025, asserting that claims based on assessment orders passed during the moratorium period could not be considered in the CIRP. The Resolution Plan for the Corporate Debtor had already been approved by the Committee of Creditors (CoC) on 25.08.2022 and was pending approval by the
…The Corporate Insolvency Resolution Process (CIRP) of Vikas WSP Limited commenced on 02.02.2022.
A public announcement for claims was issued on 04.02.2022, with the last date for submission of claims being 16.02.2022.
The Income Tax Department initially lodged claims aggregating to ₹192.55 crores on 15.02.2022 and 22.03.2022, which were duly admitted by the Resolution Professional.
Subsequent assessment/reassessment orders under the Income Tax Act, 1961, passed during the moratorium period, led to additional tax demands.
An updated claim of ₹268.73 crores (reflecting an increase of ₹76.17 crores) was submitted by the Dy. Commissioner of Income Tax, Hisar, on 16.09.2025.
…Corporate Insolvency…
Public announce…