Update on CIRP proceedings- Appellate proceedings before the Hon''ble National Company Law Appellate Tribunal (NCLAT) in Comp. App.(AT)(Ins.)850 of 2026
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Prime Focus Limited has received interim relief from NCLAT in its appeal against the NCLT Mumbai's May 6, 2026 order that admitted a Section 7 IBC petition against the company. On May 8, 2026, NCLAT heard the appeal and directed the Interim Resolution Professional (IRP) not to take any further steps pursuant to the NCLT order. The next hearing is scheduled for May 11, 2026. This development provides temporary relief to the company as the insolvency admission order has been effectively stayed pending the appellate court's decision.
For shareholders, this NCLAT interim order temporarily halts the insolvency resolution process, which could stabilise the stock in the short term. However, the ultimate outcome depends on the NCLAT's final decision on May 11 or subsequent hearings.