New Delhi: Prime Focus has informed stock exchanges that the Mumbai Bench of the National Company Law Tribunal (NCLT) has orally pronounced the admission of an insolvency petition filed by Reliance Alpha Services Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016.
According to the filing dated May 7, 2026, the petition pertains to an alleged financial debt of Rs 353.79 crore, including interest, under a loan agreement executed in 2019. The company said it was informed about the oral pronouncement around 8:18 pm on May 6, 2026, while the written order is still awaited.
Prime Focus said it has already filed an appeal/application before the National Company Law Appellate Tribunal (NCLAT) seeking urgent relief,…