We intimate that Corporate Insolvency Resolution Process (CIRP) of M/s Telephone Cables Limited ("Corporate Debtor") has been commenced vide order dated 19.02.2026 passed by Hon''ble NCLT ....
Awaiting price reaction for this filing.
The NCLT Chandigarh Bench has admitted Telephone Cables Ltd into the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016, via order dated 19.02.2026. The petition was filed by Omkara Assets Reconstruction Pvt Ltd (financial creditor), which acquired the debt from SASF (originally an IDBI loan from 1986–1998). The default claimed is approximately ₹180.66 crore as of 30.04.2024, comprising ₹18.94 crore principal, ₹83.23 crore interest, ₹1,519.33 crore further interest, and ₹185.07 crore in liquidated damages. The company, which manufactured polyethylene-insulated jelly-filled telephone cables, had already been ordered wound up by the Punjab & Haryana High Court in 2015, and proceedings were transferred to NCLT in 2024. A moratorium under Section 14 has been declared, and Ducturus Resolution Professionals Pvt Ltd (through Ms. Sunita) has been appointed as Interim Resolution Professional (IRP).
This is a deeply negative development for shareholders. With CIRP admitted and a moratorium in force, existing management's powers are suspended, and an IRP will now attempt to revive the company or its assets through a resolution plan. Equity holders typically face heavy dilution or write-down in IBC proceedings, and the stock is likely to remain illiquid and under pressure.