NCLAT stays insolvency order against Polycab India
In short
Polycab India said the NCLAT has put a hold on an NCLT insolvency order against the company. The case was filed by Asier Metals Private Ltd over alleged dues of ₹2.79 crore, and the appeal is due to be heard on October 26.
The company said normal business continues. What the court will decide next is still unknown.
What the reporting says
Polycab India said the NCLAT stayed an NCLT order admitting an insolvency petition filed by Asier Metals Private Ltd over alleged operational dues of ₹2.79 crore. The appeal is scheduled for hearing on October 26, according to the company’s update in publisher summaries. Polycab said business operations continue as usual, while the outcome of the appeal remains unknown.
Why it matters
Polycab India said the National Company Law Appellate Tribunal stayed an NCLT order that had admitted an insolvency petition from Asier Metals Private Ltd over alleged operational dues of ₹2.79 crore. The appeal is listed for hearing on October 26. The stay gives Polycab temporary relief and reduces immediate insolvency pressure, but the final legal outcome and any payment liability are not stated.