{"url":"https://newsforagent.com/news/2026-10-28/msci-polycab-delisting-nclat-stay","markdown_url":"https://newsforagent.com/news/2026-10-28/msci-polycab-delisting-nclat-stay.md","title":"MSCI Told to Halt Polycab India Delisting by NCLAT","headline":"NCLAT Interim Order Bars MSCI From Delisting Polycab India Pending Insolvency Appeal","description":"NCLAT has barred MSCI from removing Polycab India from its indexes until it rules on an insolvency appeal.","section":"Legal & Disputes","published_at":"2026-10-28T06:07:44+00:00","modified_at":"2026-10-28T06:07:44+00:00","author":"News Desk","key_takeaways":["NCLAT issued an interim order on October 27, 2026, directing MSCI not to delist Polycab India pending a final ruling in Company Appeal (AT) (Insolvency) No. 1940 of 2026.","The stay covers the MSCI review cycle that began on October 28, 2026, keeping Polycab eligible for index inclusion.","The appeal was filed by suspended director Bharat Ajay Jaisinghani against Asier Metals Pvt. Ltd."],"companies":[{"name":"MSCI","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00008my/msci","website":"http://msci.com"},{"name":"Asier Metals","is_primary":false,"profile_url":"https://akta.pro/company-profiles/002yw8c/asier-metals","website":"https://www.asier.in"},{"name":"Polycab India Limited","is_primary":false,"profile_url":"https://akta.pro/company-profiles/000l5fl/polycab-india-limited","website":"https://polycab.com"}],"source":{"publisher":"ScanX","title":"NCLAT directs MSCI to halt Polycab delisting pending appeal order","url":"https://scanx.trade/stock-market-news/companies/nclat-directs-msci-halt-polycab-delisting-pending-appeal-order/54709682"},"other_sources":[],"tags":["Legal & Disputes","MSCI","Asier Metals","Polycab India Limited"],"body_markdown":"The National Company Law Appellate Tribunal directed [MSCI](https://akta.pro/company-profiles/00008my/msci) on October 27, 2026, not to remove Polycab India's stock from its indexes until the tribunal rules on an insolvency appeal, [ScanX](https://scanx.trade/stock-market-news/companies/nclat-directs-msci-halt-polycab-delisting-pending-appeal-order/54709682) reported. The stay covers the review cycle that began on October 28, 2026.\n\n## How the NCLAT Stay Was Issued\n\nThe NCLAT Principal Bench in New Delhi acted after counsel for Bharat Ajay Jaisinghani, a suspended director of [Polycab India Limited](https://akta.pro/company-profiles/000l5fl/polycab-india-limited), argued that the index provider might delist the scrip in its next review cycle. The tribunal noted the matter was reserved for orders and stayed any such action by MSCI.\n\nThe order relates to Company Appeal (AT) (Insolvency) No. 1940 of 2026, filed by Jaisinghani against [Asier Metals](https://akta.pro/company-profiles/002yw8c/asier-metals) Pvt. Ltd. The appeal challenges decisions tied to the insolvency resolution process involving the company.\n\nPolycab told BSE and NSE that the order was communicated to MSCI on October 27, 2026, and that it would keep notifying the exchanges of material events. The company had disclosed litigation updates to both exchanges on October 7, 8, 9, 14 and 16, 2026.\n\n## What the Index Stay Protects\n\nIndex inclusion drives automatic buying and selling by institutional investors who track the benchmarks, so removal during a review cycle can trigger passive fund outflows. The interim order keeps Polycab's shares eligible for MSCI indexes through the cycle that started on October 28, 2026.\n\n## MSCI's Index and Data Business\n\nMSCI is a New York-based provider of rules-based indexes, ESG and climate risk analytics, and private asset data to institutional investors, according to akta.pro [company records](https://akta.pro/company-data). The company was founded in 1969 and has offices in over 26 countries.\n\nThe same records list a $120 million cash acquisition of First Street, announced in June 2026, to add physics-based physical climate risk data covering over 2 billion structures to MSCI's climate solutions platform. MSCI also launched MSCI IndexAI Insights in June 2026, a conversational tool for exploring its indexes in natural language.\n\n## Earlier MSCI Index Decisions\n\nOn October 23, 2026, Business Standard reported that JM Financial expected three additions and two exclusions in the MSCI India Standard Index review on November 11, with the changes effective December 1.\n\nOn October 20, 2026, Nate reported that Adam Back said passive inflows into Stratis may drop if MSCI excludes the stock, while active fund managers would still buy it.\n\nOn October 23, 2026, The Jakarta Post reported that Bank Indonesia said an MSCI warning triggered immediate outflows from the bond market but had only a limited effect on the rupiah.\n\n## Polycab's Investor Meetings\n\nPolycab has scheduled seven institutional investor meetings between October 28 and December 1, 2026, including sessions with Goldman Sachs, CITIC CLSA, JM Financial and Avendus Spark, ScanX reported. The company said only corporate and earnings presentations hosted on its website and other public information would be shared at the sessions.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}