Telephone Cables CIRP: CoC Faces ₹5,920.87 Cr Claims (2026)

Overview: Telephone Cables enters CIRP and CoC takes charge

Telephone Cables Limited has moved into the Corporate Insolvency Resolution Process (CIRP) following an admission order by the National Company Law Tribunal (NCLT) dated February 19, 2026. The process shifts key decision-making away from shareholders and toward the Committee of Creditors (CoC). Verified financial claims against the company total ₹5,920.87 crore. The CoC was constituted on March 13, 2026, and the list of creditors was filed on March 14, 2026.

NCLT admission and the IRP appointment

The NCLT Chandigarh Bench admitted Telephone Cables Limited into CIRP under the Insolvency and Bankruptcy Code, 2016. Ducturus Resolution Professionals Pvt. Ltd. was appointed as the Interim Resolution Professional (IRP) to manage the company’s affairs during this period. As part of the regulatory framework, the IRP is required to file a report certifying the constitution of the CoC within two days of verification of claims received. The IRP also requested CoC members to share the details of their authorised representatives for participation in committee meetings.

CoC constitution: four financial creditors and verified claims

The CoC has four financial creditors with total verified claims of ₹5,920.87 crore. Omkara Assets Reconstruction Pvt Ltd is the dominant creditor with an 87.82% voting share, giving it significant influence over CoC decisions. Other creditors include Kotak Mahindra Bank, Punjab & Sind Bank, and Canara Bank. The CoC constitution is referenced as being in compliance with Section 18(c) of the Insolvency and Bankruptcy Code, 2016.

Creditor breakdown: amounts and voting power

The voting shares and verified amounts indicate a highly concentrated lender structure. Omkara ARC’s verified claim stands at ₹5,199.79 crore, while the remaining three creditors together account for the balance. This distribution matters because CoC decisions, including key appointments and approvals, are driven by voting share.

Inaugural CoC meeting on March 21, 2026: what was discussed

The CoC held its inaugural meeting on March 21, 2026, marking an operational milestone in the CIRP. During this meeting, the IRP reported on asset management steps taken after visiting the company’s factory premises and land. The site visits indicated that assets were in poor condition, and overgrown vegetation was reported to be making access difficult. These observations were presented in the context of protecting and preserving the asset base during CIRP.

Approvals for valuers, legal counsel, and asset security

The CoC secured approvals to appoint valuers, legal counsel, and a security firm to protect the company’s assets. These approvals align with early-stage CIRP requirements, where asset protection and valuation work typically precede any resolution plan evaluation. The CoC also approved ₹0.05 crore for boundary wall repairs, indicating immediate measures to secure physical premises.

CIRP costs: IRP fee and near-term expense estimates

Cost approvals and estimates were also discussed. The IRP’s monthly fee was reported as approximately ₹0.06 crore plus GST. Estimated CIRP costs until the next meeting were stated to be around ₹0.05 crore. These cost lines are relevant because CIRP expenses are monitored closely by creditors and form part of the overall insolvency cost framework.

Sector context: where Telephone Cables fits

Telephone Cables Limited operates in the cables and wire manufacturing segment. The broader sector includes large listed players such as Polycab India, which was referenced as having FY23 revenue of ₹15,151 crore. While Telephone Cables is under CIRP, the reference provides context on the scale and competitive intensity of the industry in which the company operates.

What to watch next in the CIRP process

The IRP asked CoC members to submit authorised representative details, including names, designations, and contact information, to support formal communications during CIRP. The first CoC meeting is required to be held within seven days of filing the constitution report with the adjudicating authority, as stated in the provided regulatory outline. Key next steps highlighted include appointment of a Resolution Professional (if the IRP is interim) and the formulation and submission of potential resolution plans by interested parties. The process outcomes outlined include resolution or liquidation, depending on how the CIRP proceeds.

Conclusion

Telephone Cables Limited’s CIRP has moved from admission to creditor oversight, with the CoC constituted on March 13, 2026 and verified claims of ₹5,920.87 crore. Early actions have focused on asset condition assessment, securing premises, and appointing professionals for valuation and legal support. The next developments will hinge on CoC decisions and the progression of mandated meetings and filings under the Insolvency and Bankruptcy Code framework.