Prime Focus Limited has informed the Exchange about Stay of NCLT order for CIRP - Update on appellate proceedings before the Hon ble NCLAT in Comp. App. (AT) (Ins.) No. 850 of 2026
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Prime Focus Limited has obtained a stay from NCLAT on the NCLT order dated May 6, 2026, which had initiated CIRP proceedings under Section 7 of the Insolvency and Bankruptcy Code. The company, claiming to be solvent with 12,000 employees and assets exceeding the disputed amount, must deposit Rs. 353.79 crore (including principal of Rs. 200 crore plus interest) in an interest-bearing account with NCLAT Registrar by May 20, 2026. The Interim Resolution Professional is barred from taking further steps. The matter is listed for next hearing on July 9, 2026. The respondents claim the actual amount due is higher than Rs. 350 crore.
This stay is a temporary reprieve for the company as the insolvency proceedings are paused pending the appeal. The required deposit of Rs. 353.79 crore within a week is a significant financial obligation and the company must meet this deadline to maintain the stay.