# Asier Metals Private Limited vs. Polycab India Limited

> NCLT judgment dated 2026-10-07. Citation: TCN-2026-NCLT-01157. Asier Metals Private Limited (Operational Creditor) filed a petition under Section 9 of the…

- **Court:** NCLT
- **Order date:** 7 Oct 2026
- **Citation:** TCN-2026-NCLT-01157
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/polycab-india-limited-bzjok

## Summary

### Background

Asier Metals Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Polycab India Limited (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an operational debt of Rs.2,78,70,157.22/-, arising from the supply of Aluminium Ingots. The Corporate Debtor disputed the debt, alleging that invoices were provisional, reconciliation was ongoing, and there were counterclaims for adjustments related to material shortages, detention, and demurrage.

## Facts

Asier Metals Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against Polycab India Limited (Corporate Debtor).

The petition seeks initiation of CIRP for an alleged operational debt of Rs.2,78,70,157.22/-.

The debt arises principally from the supply of Aluminium Ingots.

The business relationship between the parties commenced in June 2020, with agreed payment terms of 100% advance against Purchase Orders.

Till March 2026, the Corporate Debtor made advance payments, but thereafter stopped, while the Operational Creditor continued to supply material against June 2026 Purchase Orders.

The date of default is stated to be 26.06.2026.

The Operational Creditor issued a statutory demand notice in Form-3 dated 06.08.2026.

…

## Issues and analysis

### Issue 1: Whether there is an operational debt due and payable by the Corporate Debtor to the Operational …

**Ratio:** A claim arising from the supply of goods falls within the expression "operational

…

**Reasoning:** The Operational Creditor supplied Aluminium Ingots to the Corporate Debtor against

…

**Interpretation:** The term "operational debt" is broadly interpreted to include claims

…

**Application:** The claim by Asier Metals Private Limited for the price of Aluminium Ingots

…

## Parties

- **Judges:** SHAMMI KHAN,…; SANJEEV SHARMA,…
- **Appellants:** Asier Metals…
- **Respondents:** Polycab India…
- **Other parties:** Committee of…; Arun Kuma…; +2 more
- **Advocates:** Kanishk K…; Saurabh So…; +1 more

## Timeline

- **2019-12 — Commercial Relationship…**: The commercial relationship between Asier Metals Private Limited and Polycab India…
- **2020-06 — Business Relationship…**: The business relationship between Asier Metals Private Limited and Polycab India Limited…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-ahmedabad/polycab-india-limited-bzjok