Market snapshot: The National Company Law Appellate Tribunal has set aside corporate insolvency resolution proceedings initiated against Polycab India Limited. The earlier insolvency admission order by NCLT stemmed from a Section 9 petition regarding an alleged operational debt claim of ₹2.79 crore.
Data Snapshot
- Alleged operational debt dispute under Section 9 IBC stands at ₹2.79 crore.
- Company holds a net cash balance of ₹4,194 crore and shareholders net worth of ₹12,009 crore.
What’s Changed
- NCLAT set aside the corporate insolvency resolution process admission order.
- Operational control and board authority remain fully with Polycab India management.
- Legal risk surrounding the ₹2.79 crore operational dispute with Asier…