Prime Focus has successfully obtained a stay on the National Company Law Tribunal (NCLT) order, as per the latest update on the appellate proceedings before the National Company Law Appellate Tribunal (NCLAT). The company has been directed to deposit an amount of ₹353,79,74,505 in an interest-bearing account with the Registrar of NCLAT by May 20, 2026.
The appeal, identified as Comp. App. (AT) (Ins.) No. 850 of 2026, was heard on May 12, 2026, by the Principal Bench of NCLAT in New Delhi. During the hearing, it was submitted that Prime Focus is a solvent entity with 12,000 employees and possesses liquidity and assets exceeding the disputed amounts under the Section 7 proceedings initiated under the Insolvency and Bankruptcy Code, 2016.
The NCLAT has issued specific directions, including the stay of the impugned order dated May 6, 2026, passed by the NCLT Mumbai Bench. Additionally, the Interim Resolution Professional (IRP) has been instructed not to proceed with any further steps in relation to the NCLT order.
The matter is scheduled for further hearing on July 9, 2026. Prime Focus has expressed its willingness to deposit the entire disputed amount in an interest-bearing account within a week, demonstrating its commitment to resolving the issue.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).