NCLT admits insolvency petition over Rs 2.79 crore dispute; Polycab appeals to NCLAT
POLYCAB · price
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Asier Metals filed a Section 9 IBC petition against Polycab claiming Rs 2.79 crore in unpaid dues from aluminium ingot supplies. NCLT Ahmedabad admitted the petition on October 7, 2026, initiating CIRP against Polycab. Polycab disputes the claim, citing pending reconciliation of credit notes, detention charges, and pricing adjustments, and has filed an appeal before NCLAT with hearing on October 9, 2026. The debt is below Polycab's materiality threshold of Rs 109.28 crores.
CIRP initiated over disputed Rs 2.79 crore claim. Polycab contests debt and appeals to NCLAT. Amount is well below materiality threshold. Limited immediate financial impact expected.