The dispute arose from supplies of aluminium ingots by Asier Metals. On October 7, the NCLT Ahmedabad admitted the operational creditor’s petition and appointed Sunit Jagdishchandra Shah as Interim Resolution Professional.
Polycab had opposed the petition, arguing that the invoices reflected provisional billing, the parties’ ledgers required reconciliation and an ₹80 lakh deduction towards demurrage remained pending. It maintained that these issues constituted a pre-existing dispute barring admission of the insolvency petition.
However, the NCLT bench of judicial member Shammi Khan and technical member Sanjeev Sharma rejected these defences.