The First CoC Meeting was held on Friday, 20.03.2026 at 3:30 PM at SCO 818, 1st Floor, NAC, Manimajra, Sector-13, Chandigarh-160101. The Minutes of the same meeting was circulated on 22.03.2026
Awaiting price reaction for this filing.
The first CoC meeting for Telephone Cables Ltd was held on 21.03.2026 under the Corporate Insolvency Resolution Process (CIRP) admitted by NCLT Chandigarh on 19.02.2026. The company, previously under liquidation/winding-up, now has admitted financial debts of ₹5,920.87 crore. The Committee of Creditors comprises four secured financial creditors: Omkara Assets Reconstruction Pvt Ltd (87.82% voting share, ₹5,197.79 crore), Kotak Mahindra Bank (6.22%), Punjab & Sind Bank (3.64%), and Canara Bank (2.32%). The IRP (Ms. Sunita) has taken custody of the company's factory in Mohali (approximately 26 acres, in severely deteriorated condition, abandoned for 10-15 years) and agricultural land in Garhshankar (approximately 47 acres). Directors' powers remain suspended and they did not participate in the meeting.
This is a significant negative development for shareholders as the company is now under formal insolvency proceedings. With total debt of nearly ₹5,921 crore against a company whose assets appear to have only scrap value, equity shareholders are likely to receive nothing. The stock is expected to remain suspended or trade at negligible values reflecting near-zero recovery prospects.