Polymatech Electronics Unlisted Shares
Polymatech Electronics – NCLT Issues Notice Over ₹157 Cr Insolvency Claim
MSN
2 min read
Expert Analysis:
The Chennai Bench of the National Company Law Tribunal (NCLT) has issued a notice to Polymatech Electronics Ltd following an insolvency petition filed under the Insolvency and Bankruptcy Code (IBC) alleging a default of ₹157 crore by the company.
The insolvency claim was lodged by operational creditors who allege that Polymatech failed to fully settle dues, including advisory fees and equity commitments, despite partial payments and acknowledgements of liability.
Polymatech’s legal representative accepted the notice on behalf of the company, and the matter has been scheduled for further hearing on 26 March 2026, where the tribunal will consider whether to admit the petition and potentially trigger a formal Corporate Insolvency Resolution Process (CIRP).
Key Takeaway:
NCLT’s notice places a bankruptcy overhang on Polymatech Electronics, with the upcoming March hearing a critical event that could determine whether insolvency proceedings commence, potentially impacting operations, stakeholder confidence, and the company’s strategic plans.
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