The National Company Law Tribunal (NCLT), Mumbai Bench, has admitted a petition against Prime Focus Limited under Section 7 of the Insolvency and Bankruptcy Code over an alleged financial debt of ₹353.79 crore, according to a company filing.
The petition was filed by Reliance Alpha Services Private Limited, which has claimed the debt, including interest, under a loan agreement executed in 2019. The admission was made through an oral pronouncement dated May 6, 2026, with the written order awaited.
Following the development, Prime Focus said it has filed an appeal before the National Company Law Appellate Tribunal (NCLAT), seeking urgent relief, including a stay on the operation of the order.
The company maintained that no amount was…