Legal Proceedings Overview
Polycab India Limited has received an order dated October 09, 2026 from the Hon'ble National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi. The order stays and keeps in abeyance the order dated October 07, 2026 passed by the Hon'ble National Company Law Tribunal (NCLT), Ahmedabad Bench.
Case Details
- Case Reference: C.P.(IB)No.273/9/AHM/2026
- Parties Involved: Asier Metals Private Limited (Operational Creditor) vs. Polycab India Limited (Corporate Debtor)
- Legal Basis: Section 9 of Insolvency and Bankruptcy Code, 2016 (IBC)
- Debt Amount: Alleged operational debt of ₹2.79 crore
- NCLAT Order Effect: Complete stay on admission and initiation of Corporate Insolvency Resolution Process (CIRP)
NCLAT Directive
The Hon'ble NCLAT has directed that "the impugned order is stayed and be kept in abeyance till further orders."
Next Hearing Schedule
The appeal is presently scheduled for hearing on October 26, 2026.
Company's Legal Position
The company states it has "a strong case with good grounds on merits" and characterizes the matter as "a commercial dispute of INR. 2.79 crores."
Operational Impact Assessment
- Business and management operations continue as usual
- No expected adverse/material impact on financial or business operations
- Zero-debt position maintained
- Cash/investment liquidity remains strong
Financial Position Disclosure (as per audited financial statements for year ended March 31, 2026)
- Net cash position: in excess of ₹4,000 crores
- Net-worth: ₹11,682 crores
Business Context
Polycab India Limited is India's largest manufacturer of Wires and Cables with consolidated turnover of ₹285+ Bn in FY26. The company operates through 26 manufacturing facilities, 15 offices, 35 warehouses, and serves 94 countries globally.