Prime Focus NCLT Insolvency Admission Over ₹353 Crore Default

NCLT Mumbai admits Reliance Alpha's Section 7 IBC petition against Prime Focus Ltd, citing default of ₹353.79 crore debt.
NCLAT grants interim stay until May 11, 2026, halting IRP actions following appeal by company director.
Dispute centers on validity of ₹200 crore loan from 2019 Business Transfer Agreement with Reliance Mediaworks.
Tribunal rejects Prime Focus's contractual dispute defense, finding financial debt evidence in balance sheets and TDS payments.