MSCI has deferred Polycab index removal pending further developments in the Indian company’s insolvency proceedings and clarification from relevant authorities. The index provider announced the decision on October 28, 2026.
Why Polycab index removal is on hold
The National Stock Exchange of India placed Polycab on its Insolvency Resolution Process board on October 7. Two days later, the National Company Law Appellate Tribunal, or NCLAT, stayed the company’s admission to the insolvency process. The tribunal reserved judgment on October 27.
In its index announcement, MSCI said it would defer the deletion pending further developments. The announcement applies to the MSCI Global Standard Indexes.
What MSCI will monitor
MSCI’s methodology generally calls for constituents on specified ineligible alert boards to be deleted from its Global Investable Market Indexes on the last business day of the month, subject to at least two full business days’ notice.
MSCI said it would continue to monitor Polycab’s status on the insolvency-process list and any subsequent NCLAT orders. It will communicate further changes as appropriate.
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