MSCI delays Polycab India index removal pending NCLAT review
In short
MSCI delayed removing Polycab India from its indexes after the company was placed on the Insolvency Resolution Process board on October 7.
The hold follows the NCLAT stay on October 9. Investors still do not know when the index change will happen.
What the reporting says
MSCI delayed the removal of Polycab India from its indices after the company was placed on the Insolvency Resolution Process board on October 7. The move follows the National Company Law Appellate Tribunal’s stay on the company’s admission to insolvency on October 9, leaving the index status unsettled. MSCI said it is still monitoring Polycab India and any related NCLAT orders.
Why it matters
MSCI delayed Polycab India’s removal from its indices after insolvency-related developments on October 7 and October 9. The company was placed on the Insolvency Resolution Process board, then the NCLAT stayed its admission to insolvency. That leaves the index decision unsettled for Polycab India investors, while MSCI continues to watch for further tribunal orders.