Polycab India: NCLAT Stays Insolvency Proceedings

Polycab India has received an order from the National Company Law Appellate Tribunal (NCLAT) staying and keeping in abeyance the order dated October 7, 2026, passed by the National Company Law Tribunal (NCLT) for the admission of Corporate Insolvency Resolution Process (CIRP) against the company. The NCLAT order pertains to an alleged operational debt of ₹2.79 crore claimed by Asier Metals Private Limited. The NCLAT has directed Polycab India to deposit the disputed amount as an FDR within a week, without prejudice to its rights and contentions, and has listed the appeal for further hearing on October 26, 2026. This stay provides significant relief to Polycab India, allowing it to continue its operations without the immediate threat of insolvency proceedings.