The Second CoC meeting in the matter of Telephone Cables Limited was held on Tuesday, 07.04.2026 at 04:00 PM at SCO 818, NAC, Sector-13, Manimajra, Chandigarh - 160101
Awaiting price reaction for this filing.
Telephone Cables Limited is undergoing Corporate Insolvency Resolution Process (CIRP) under IBC 2016, with insolvency commencement date 19-02-2026 and estimated closure by 18-08-2026. The second CoC meeting was held on 07.04.2026 to discuss key agenda items including approval of Form G (invitation for Expression of Interest from resolution applicants), eligibility criteria for prospective resolution applicants, evaluation matrix and RFRP, marketing strategy for assets, and transaction audit requirements. The Committee of Creditors comprises four financial creditors: Omkara Assets Reconstruction Pvt Ltd (87.82%), Kotak Mahindra Bank Ltd (6.22%), Punjab & Sind Bank (3.64%), and Canara Bank (2.32%). Additional claims received include Rs.51.52 lakh from BSE, Rs.10.61 lakh from NSDL, and Rs.10,429 from MUFG Intime. The company has remained non-operational since 2005 with no audited financials since FY 2014-15. An amount of Rs.82.78 lakh deposited with Delhi High Court Registry is also being addressed.
The company is in active insolvency proceedings with the RP seeking creditor approvals for key resolution steps including marketing assets and inviting resolution plans. Shareholders should note that this is a distressed company under CIRP with powers of directors suspended, and any recovery depends on successful resolution plan approval.