Telephone Cables CIRP 2026: EoI dates, CoC, Rs 5,920.87 cr

Telephone Cables Limited has entered the Corporate Insolvency Resolution Process (CIRP) after the National Company Law Tribunal (NCLT), Chandigarh Bench, passed an admission order dated February 19, 2026. With the insolvency commencement date triggered, decision-making has shifted from shareholders to the Committee of Creditors (CoC), as laid out under the Insolvency and Bankruptcy Code (IBC), 2016. The latest disclosures around the process include the constitution of the CoC, the scale of verified claims, and revised timelines for inviting investor interest through Form G.

The case has also surfaced key operational context. Telephone Cables Limited is described as non-operational since 2005, with no employees, production capacity, or sales. In such situations, the CIRP process often centers on asset status, valuations, site upkeep, and the scope for resolution applicants to propose a plan.

NCLT admission and the CIRP framework

The NCLT Chandigarh Bench admitted Telephone Cables Limited into CIRP under Section 7 of the IBC, 2016. The tribunal’s order is dated February 19, 2026, in CP(IB) No.140/Chd/Chd/2024. Alongside admission, the tribunal declared a moratorium under Section 14 of the IBC. The moratorium prohibits actions such as institution of suits, transfer of assets, enforcement of security interests, and recovery of property during the process period.

The CIRP is stated to run for 180 days from the insolvency commencement date, implying an estimated closure date of August 18, 2026. The process remains effective until completion of the resolution process, approval of a resolution plan under Section 31, or a liquidation order under Section 33.

Interim Resolution Professional and contact details

Ducturus Resolution Professionals Pvt Ltd has been appointed as the Interim Resolution Professional (IRP) to manage the company’s affairs during the CIRP period. Filings state that the appointment is through its Director, Ms Sunita, with IRP registration number IBBI/IPE-0026/IPA-1/2022-23/50040. The IRP is responsible for tasks that include collating claims, preserving the value of assets, and facilitating CoC-led decision-making.

The process website has been listed as http://telephonecables.ibc2016.net/ and the process email as [email protected]. These channels are typically used to publish process documents and enable communication for claims and resolution participation.

Verified claims: Rs 5,920.87 crore

Verified financial claims against Telephone Cables Limited total Rs 5,920.87 crore, as cited in the filings. Another disclosure presents the same figure in rupee terms as Rs 59,208,710,586, which equals about Rs 5,920.87 crore. The scale of verified claims provides an early indicator of creditor exposure within the process.

The tribunal also noted that the Section 7 application was filed for a default amount of Rs 1,806.56 crore as on April 30, 2024. This default figure is distinct from the total verified claims figure referenced later in the process updates.

CoC constitution and creditor oversight timeline

The CoC was constituted on March 13, 2026, and the list of creditors was filed on March 14, 2026. The narrative around the process highlights that once the CoC is in place, creditor oversight becomes central, including decisions on process costs, valuations, and approvals related to the debtor’s assets.

The first CoC meeting is scheduled for March 20, 2026. The agenda, as described, includes discussion of claims, asset status, valuations, appointments, and operational approvals such as electricity connection and site maintenance.

Form G and EoI timeline extended to May 15, 2026

Telephone Cables Limited has issued a Form G invitation for Expression of Interest (EoI), signalling a formal window for prospective resolution applicants to participate. The timelines have been extended, according to the disclosures.

The original EoI submission deadline was May 4, 2026, and it has been extended to May 15, 2026. The remarks also indicate that the EoI extension relates to non-operational assets in Mohali, Punjab, and a potential entry point for resolution applicants.

Resolution plan submission date revised to July 14, 2026

Along with the EoI extension, the deadline for submitting resolution plans has also been revised. The original resolution plan deadline was July 3, 2026, and it has been extended to July 14, 2026.

These date changes matter because they define when interested parties must move from initial intent (EoI) to a full plan submission. The available disclosures do not provide a provisional list or objection deadlines, but they explicitly confirm the extended EoI and plan timelines.

Assets and operational status: what filings say

The filings describe Telephone Cables Limited as non-operational since 2005, with no employees, production capacity, or sales. This context frames why the CIRP is focused on assets rather than ongoing business operations.

Majority assets are stated to be located at A-30, Industrial Focal Point, Phase-8, Mohali, Punjab. The company also has a freehold land parcel in Village Kolewal, Garhshankar, Punjab. These locations are repeatedly referenced in relation to the CIRP and EoI process.

Process costs and directions to the financial creditor

The NCLT order includes a financial arrangement for initial CIRP costs. The initial CIRP cost is stated as Rs 0.04 crore (Rs 4.00 lakh). The financial creditor has been directed to pay an advance of this amount to the IRP within two weeks to meet initial costs.

Such cost directions are part of ensuring the IRP can undertake the required steps early in the process, including public announcements, claims verification, and asset preservation measures.

Key facts table

Market and stakeholder impact: what changes under CIRP

The disclosures explicitly note that CIRP shifts key decisions away from shareholders and toward the CoC. In practical terms, that means financial creditors, through voting in the CoC, steer approvals and timelines during the insolvency period.

One update also mentions Omkara ARC holding 87.82% CoC voting share. This concentration can influence how quickly routine process decisions are taken, such as approvals for valuations, site maintenance, and engagement of professionals, depending on CoC deliberations.

For potential resolution applicants, the extended EoI and plan deadlines provide additional time to review assets, evaluate feasibility, and prepare submissions within the IBC framework. For creditors, the process is centered on claims verification and eventual consideration of resolution options in line with CoC decisions.

Conclusion

Telephone Cables Limited’s CIRP has advanced from the NCLT admission stage to creditor-led oversight, with the CoC constituted on March 13, 2026 and verified financial claims disclosed at Rs 5,920.87 crore. The Form G process remains active, with the EoI deadline extended to May 15, 2026 and the resolution plan deadline extended to July 14, 2026. The next process milestones, as disclosed, include the first CoC meeting scheduled on March 20, 2026 and continued actions by the IRP under the moratorium framework.