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NCLAT Stays Insolvency Order Against Polycab India
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CNBC TV18•13-10-2026, 17:16
NCLAT Stays Insolvency Order Against Polycab India
- •The National Company Law Appellate Tribunal stayed the NCLT order that had admitted an insolvency petition against Polycab India.
- •The original petition was filed by Asier Metals Private Ltd over alleged operational dues amounting to ₹2.79 crore.
- •Polycab India stated that it maintains a strong case on merits, describing the matter as a commercial dispute.
- •The company assured that the stay will have no adverse impact on its financial or business operations, highlighting its strong balance sheet with net cash exceeding ₹4,000 crores.
Key Questions Answered
The National Company Law Appellate Tribunal stayed and kept in abeyance the National Company Law Tribunal's order that admitted an insolvency petition against Polycab India Ltd.
The petition was filed by Asier Metals Private Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process over alleged operational dues of ₹2.79 crore.
The company's appeal against the NCLT admission order is scheduled for hearing before the NCLAT on October 26, 2026.
