NCLAT quashes Polycab insolvency over ₹2.78 crore dispute

NCLAT set aside insolvency proceedings against Polycab India, initiated by Asier Metals over ₹2.78 crore in alleged operational dues. The appellate tribunal found a genuine pre-existing dispute over credit notes, detention charges, and account reconciliation, ruling NCLT had failed to examine party correspondence properly. Polycab is now free to function under its board of directors.