The First CoC Meeting was conducted on Friday, 20.03.2026 at 03:30 PM at SCO 818, 1st Floor, NAC, Manimajra, Sector-13, Chandigarh
Awaiting price reaction for this filing.
Telephone Cables Ltd is undergoing Corporate Insolvency Resolution Process (CIRP) under IBC 2016, admitted by NCLT Chandigarh on 19-02-2026. The first CoC meeting was held on 20.03.2026 with total admitted debt of Rs 5,920.87 crore. The Committee comprises four financial creditors: Omkara Assets Reconstruction (87.82%), Kotak Mahindra Bank (6.22%), Punjab & Sind Bank (3.64%), and Canara Bank (2.32%). The Interim Resolution Professional Ms. Sunita from Ducturus Resolution Professionals has taken custody of the factory at Mohali (26 acres) which appeared abandoned for 10-15 years with overgrown vegetation and damaged structures. The registered office in Chandigarh was found occupied by other commercial establishments rented out by the suspended directors. Assets are likely to have only scrap value. CIRP deadline is 18-08-2026.
This is a negative development for shareholders as the company is insolvent with nearly Rs 5,920 crore in admitted debt against assets of uncertain value. Equity holders face significant dilution or total loss if a resolution plan is not approved or the company goes into liquidation.