NCLT admits insolvency petition against Polycab; Polycab appeals at NCLAT
POLYCAB · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
NCLT Ahmedabad admitted an insolvency petition filed by Asier Metals against Polycab on October 7, 2026, seeking Corporate Insolvency Resolution Process over an alleged unpaid operational debt of about 2.79 crore rupees from aluminium ingot supplies. Polycab says the amount is disputed, well below its 109.28 crore materiality threshold, and has filed an appeal at NCLAT with hearing on October 9, 2026. Polycab also claims counterclaims of about 18.33 crore rupees. Detailed NCLT order attached.
Small relative to Polycab's size; Polycab is contesting and has appealed. Outcome at NCLAT hearing on Oct 9 is key. Watch for any stay.