Polycab was excluded from the Futures and Options segment due to a Rs 2.79-crore claim despite a stay order from the NCLAT.

An operational creditor, Asier Metals Private Limited, filed a petition under the Insolvency and Bankruptcy Code over an alleged unpaid debt of 2.79 crore against Polycab India Limited. Following the initial admission of this insolvency petition by the National Company Law Tribunal, the National Stock Exchange issued a circular on October 12, 2026, stating that the company would be excluded from the equity derivatives segment.taxguru.intaxguru.inNCLAT stays NCLT order against Polycab India in insolvency caseThe Claim: Supplier/Operational Creditor Asier Metals Private Limited filed a petition under Section 9 of India's Insolvency and Bankruptcy Code (IBC), 2016 NCLT Admission: On October 7, 2026, the Ahmedabad Bench of the National Company...livemint.comlivemint.comPolycab Insolvency Apex Court Creditors Listed Companies Bankruptcy Debt...The Claim: Supplier/Operational Creditor Asier Metals Private Limited filed a petition under Section 9 of India's Insolvency and Bankruptcy Code (IBC), 2016, alleging an unpaid operational debt of ₹2.79 crore against major wire and cable... Business Standard and other financial reporting noted that this exchange exclusion and related surveillance actions were triggered automatically by the initial insolvency admission framework.+3 more

Concurrently, the National Company Law Appellate Tribunal intervened by granting a stay order against the lower tribunal insolvency admission. However, the sequence of administrative actions demonstrates that the exchange exclusion process was set in motion by the initial legal filing before the appellate stay took effect. Thus, while the stay order exists, the exclusion action was formally initiated based on the initial tribunal's admission of the creditor claim.financialexpress.comfinancialexpress.comNCLAT stays Polycab India insolvency order; next hearing on October 26The Rs 2.79-Crore Claim & Insolvency Case: An operational creditor, Asier Metals Private Limited, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) against Polycab India over an alleged unpaid operational debt of...