The National Company Law Appellate Tribunal (NCLAT) on Friday set aside the insolvency proceedings initiated against cable and wire manufacturer Polycab India L. On October 7, the NCLT Ahmedabad admitted the operational creditor’s petition and appointed Sunit Jagdishchandra Shah as Interim Resolution Professional.Polycab had opposed the petition, arguing that the invoices reflected provisional billing, the parties’ ledgers required reconciliation and an ₹80 lakh deduction towards demurrage remained pending.