What was filed
Polycab India told the exchanges that the National Company Law Tribunal, Ahmedabad Bench, passed an order on October 07, 2026 admitting a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition — filed by Asier Metals Private Limited in the matter C.P. (IB) No. 273/9/AHM/2026 — seeks initiation of the Corporate Insolvency Resolution Process (CIRP) against the company over an alleged operational debt. The disclosure was made under Regulation 30 of the SEBI (LODR) Regulations.
The company's response
Polycab said that, in consultation with its legal advisors, it believes it has a strong case with good grounds of appeal — including that the matter is a commercial dispute — and is in the process of filing an appeal before the National Company Law Appellate Tribunal (NCLAT). The company stated it does not expect any adverse or material impact on its financial or business operations from the order, pointing to a zero-debt position and, per its audited financial statements for the year ended 31 March 2026, the net cash and net-worth figures set out below.
Why it matters to a holder
The admission of a CIRP petition is a procedural event that places a company into the insolvency resolution framework unless set aside on appeal. The claimed amount is small relative to the balance-sheet figures the company cites, and Polycab has stated its intent to contest the order at the NCLAT. The progress and outcome of that appeal, and any further orders, are the facts to watch; the filing itself records only the admission and the company's stated position.