Shares of Polycab India Ltd attracted buying interest and gained 2% on 30 October after the National Company Law Appellate Tribunal (NCLAT) cancelled the insolvency proceedings initiated against the company.
The ruling removed a major legal concern that had put the wires and cables manufacturer under pressure. The case started after Asier Metals Private Limited approached the National Company Law Tribunal (NCLT), Ahmedabad, over an alleged unpaid debt of Rs 2.79 crore.
Asier Metals issued a demand notice on 6 August 2026, and filed an insolvency petition on 24 August. On 7 October, the NCLT admitted the petition and initiated corporate…