POLYCAB : NCLAT STAYS NCLT ORDER ADMITTING CIRP OVER RS 2.79 CR CLAIM

• NCLAT Principal Bench stayed and kept in abeyance the NCLT Ahmedabad order dated October 7, 2026 admitting CIRP against Polycab • Petition was filed by Asier Metals Private Limited under Section 9 of the IBC over an alleged operational debt of ₹2.79 Cr • Appeal filed by Bharat Ajay Jaisinghani, suspended director of Polycab India Limited • Company to deposit the Part IV amount as an FDR in the name of Registrar, NCLAT, New Delhi, within a week • Company submitted a pre-existing dispute over payments and credit notes to be issued by the operational creditor • Appeal listed for hearing on October 26, 2026

Polycab India Ltd

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