Polycab shares fall up to 5% as NSE sets equity derivatives exit timetable

The National Stock Exchange notified on October 13 that it would exclude Polycab India from the equity derivatives segment under the Insolvency and Bankruptcy Code framework. The exchange said existing October, November and December contracts would remain available until their respective expiry dates, with derivatives trading in the stock stopping on December 30.

NCLAT keeps October 7 insolvency admission in abeyance

Polycab India said in an exchange filing that the National Company Law Appellate Tribunal had stayed and kept in abeyance the October 7 order passed by the National Company Law Tribunal's Ahmedabad Bench.

The NCLT Ahmedabad order admitted the corporate insolvency resolution process against Polycab, according to the tribunal order cited in the exchange-related disclosure.

NSE stops adding Polycab contracts after October expiry

The NSE said it would not introduce new futures and options contracts for Polycab after the October contracts expire.

Polycab falls to ₹7,995 as 5 lakh shares change hands

NSE data showed that Polycab shares fell over 5% to an intraday low of ₹7,995 on October 13.

At 11:20 am IST, the shares were trading 3% lower at ₹8,156 apiece, NSE data showed.

More than 500,000 Polycab shares had changed hands by 11:20 am IST, almost five times the number traded by the same time on Monday, NSE data showed.

Asier Metals filed the case over ₹2.8 crore alleged debt

The insolvency proceedings arose from a case filed by Asier Metals Pvt. Ltd. over an alleged operational debt of ₹2.8 crore, as disclosed in the exchange-related filing.

October, November and December contracts remain until expiry

The NSE said existing October, November and December contracts would remain available until their respective expiry dates.

Trading in Polycab derivatives contracts will halt from December 30, the National Stock Exchange said.

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