Prime Focus Challenges Insolvency Ruling Over Disputed Debt
Prime Focus Ltd is challenging a recent ruling by the National Company Law Tribunal (NCLT), Mumbai Bench, that admitted an insolvency petition filed by Reliance Alpha Services Private Limited. The petition, filed under the Insolvency and Bankruptcy Code, claims a financial debt of ₹353.79 crore, including interest, from a 2019 loan agreement. Prime Focus argues this claim is invalid, stating no funds were ever disbursed under the loan. The company believes Reliance Alpha Services therefore does not qualify as a “financial creditor” and the petition should not have been admitted. Following notification of the ruling on May 6, 2026, Prime Focus has appealed to the National…