Mumbai: Global index provider MSCI said Wednesday it has put on hold the removal of Polycab India from its indices amid uncertainty over the company’s insolvency proceedings. The NSE placed Polycab on its Insolvency Resolution Process board on October 7.
The National Company Law Appellate Tribunal (NCLAT) stayed the company’s admission to the insolvency process on October 9 and reserved its judgment on October 27, said MSCI. “MSCI will continue to monitor the security’s status on the Insolvency Resolution Process list and any subsequent orders issued by the NCLAT,” the index provider said in a release.