The National Company Law Tribunal (NCLT) has admitted an insolvency case against Polycab India following arguments on a petition filed by Asier Metals. According to the tribunal's order, the case has been admitted under Section 9 of the Insolvency and Bankruptcy Code (IBC). The NCLT heard arguments from both Asier Metals and Polycab India before admitting the petition, with the tribunal also directing both parties to submit their written responses in the matter.
The NCLT has directed both Asier Metals and Polycab India to submit their written responses, which will be placed on record in the proceedings. As reported by the tribunal, both parties will present their respective positions and supporting details through the written submissions. The admission of the petition allows the insolvency proceedings to continue before the NCLT, with further hearings scheduled based on the submissions and documents placed before the tribunal.
The petition has been filed under Section 9 of the Insolvency and Bankruptcy Code, which provides for an operational creditor to apply to the adjudicating authority for initiation of the corporate insolvency resolution process against a corporate debtor. According to the tribunal proceedings, Section 9 application has been admitted after hearing the arguments of both parties. The NCLT serves as the adjudicating authority for corporate insolvency matters in this case.
Polycab India closed at ₹8,310 on October 7, 2026, gaining ₹163 or 2% from the previous close. The stock belongs to the Nifty Next 50 index and the Cables - Electricals basic industry. Over one week, the stock has delivered an absolute return of 3.54% compared with a 0.49% decline in the Nifty Next 50. Over one month, the stock has gained 0.59% while the Nifty Next 50 has declined 4.37%. On a year-to-date basis, Polycab India has gained 8.30% compared with a 0.39% decline in the Nifty Next 50, and over one year, the stock has gained 9.41% while the Nifty Next 50 has gained 1.07%.
The company's total market capitalisation stood at around ₹1,25,228.77 crore as of October 7, 2026. According to market data, Polycab India's 52-week high is ₹10,126, recorded on June 22, 2026, while its 52-week low is ₹6,663, recorded on January 27, 2026. At the October 7 closing price of ₹8,310, the stock is trading below its 52-week high and above its 52-week low, indicating current market sentiment.
