Polymatech Electronics Ltd – NCLT Issues Notice Over ₹157 Crore Insolvency Claim

Expert Analysis:

• The National Company Law Tribunal (NCLT), Chennai Bench, has issued a notice to Polymatech Electronics Ltd following an insolvency plea alleging a default of ₹157 crore, marking a significant legal development for the company.

• The insolvency application was filed by operational creditors who claim that Polymatech failed to settle dues related to advisory services and equity commitments, despite partial repayments, leading to a formal legal challenge under the Insolvency and Bankruptcy Code.

• Polymatech’s counsel accepted the notice on behalf of the company, and the tribunal has scheduled a hearing on March 26, 2026, where it will consider whether to admit the petition and potentially initiate a Corporate Insolvency Resolution Process (CIRP).