Polycab India slated for NSE derivatives removal in 2026 as insolvency order paused

Polycab India will be removed from the NSE equity derivatives segment effective December 30 2026. Existing Polycab equity‑derivatives contracts will continue to trade until their individual expiry dates, after which they will be settled. No new contracts for future expiry months will be issued once the current contract months have expired. The move was announced by the National Stock Exchange as part of its regular review of listed securities. Brokerages will cease to offer fresh Polycab futures or options after the cutoff date. In a separate development, the National Company Law Appellate Tribunal (NCLAT) has stayed the National Company Law Tribunal’s order that admitted insolvency proceedings against Polycab India. The debt claim stems from operational expenses reported by the company. The insolvency case concerns an alleged operational debt of Rs 2.79 crore. The stay was granted after the company appealed the insolvency admission. The stay means the insolvency process is paused pending further orders from the appellate tribunal. The appellate tribunal will review the insolvency order before deciding on any further action. Both actions affect investors holding Polycab derivatives and creditors following the insolvency case.

Context

The NSE oversees trading of equity‑derivatives contracts and can delist a company from that segment when it deems necessary. A stay by NCLAT temporarily halts a lower‑court order, allowing the parties to seek clarification before the insolvency process proceeds.