NCLAT closes insolvency process against Prime Focus, board powers restored
PFOCUS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
NCLAT has set aside the May 6, 2026 insolvency admission order against Prime Focus and closed the Corporate Insolvency Resolution Process (CIRP). The Interim Resolution Professional has been discharged, moratorium under Section 14 of IBC is lifted, and the Board of Directors' powers are fully restored. Parties had arrived at a conditional understanding to resolve disputes. The fixed deposit lien will be released. Company continues normal operations. Written order is awaited.
Major positive for shareholders. Company exits insolvency, management control fully restored, normal business resumes. Removes prior existential risk overhang on the stock.