Key Event
The Hon'ble National Company Law Tribunal (NCLT), Ahmedabad Bench, admitted a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) for initiation of Corporate Insolvency Resolution Process (CIRP) against Polycab India Limited. The petition was filed by Asier Metals Private Limited in respect of an alleged operational debt of ₹2.79 crore. The case reference is C.P. (IB) No. 273/9/AHM/2026 - Asier Metals Private Limited vs. Polycab India Limited.
Company's Response
The company, in consultation with its legal advisors, believes it has a strong case with good grounds for appeal. The company specifically cites the nature of the dispute as being commercial in nature. Polycab India Limited is in the process of filing an appeal before the Hon'ble National Company Law Appellate Tribunal (NCLAT) to challenge the order for admission of CIRP.
Financial Impact Assessment
The company does not expect any adverse or material impact on its financial or business operations arising from this order. The company maintains a zero-debt position with cash/investment liquidity. As per audited financial statements for the year ended March 31, 2026, the company holds a net cash position in excess of ₹4,000 crores and a net worth of ₹11,682 crores.