# In the matter of Telephone Cables Limited

> NCLT judgment dated 2026-02-19. Citation: TCN-2026-NCLT-00159. The case involves an application under Section 7 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 19 Feb 2026
- **Citation:** TCN-2026-NCLT-00159
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/telephone-cables-limited-171c152f

## Summary

### Background

The case involves an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiated after the transfer of a winding-up petition (CP No.272 of 2003) from the Hon'ble Punjab & Haryana High Court to the NCLT Chandigarh Bench. The winding-up petition was originally filed against Telephone Cables Limited, and a winding-up order was passed on 24.07.2015. The Official Liquidator was appointed as the liquidator.

## Facts

A winding-up petition (CP No.272 of 2003) was filed against Telephone Cables Limited in the Punjab & Haryana High Court, and a winding-up order was passed on 24.07.2015.

The Official Liquidator was appointed as the liquidator for Telephone Cables Limited by the Punjab & Haryana High Court.

IDBI assigned its loan to Stressed Assets Stabilization Fund (SASF), which subsequently assigned the debt to Omkara Assets Reconstruction Pvt. Ltd. (OARC).

SASF filed CA #7/2024 seeking transfer of the winding-up proceedings from the High Court to the NCLT Chandigarh based on the judgment of the Hon'ble Supreme Court in Action Ispat & Power (P) Ltd. v/s Shyam Metallics & Energy Ltd.

…

## Issues and analysis

### Issue 1: Whether the application under Section 7 of the IBC, 2016 is complete and well within the limitation …

**Ratio:** The NCLT found that the application under Section 7 of the IBC is complete and well

…

**Reasoning:** The NCLT considered the documents and submissions made by the applicant and found them to

…

**Interpretation:** The NCLT interpreted the provisions of Section 7 of the IBC regarding the

…

**Application:** The NCLT applied the provisions of Section 7 of the IBC to the facts of the

…

## Parties

- **Judges:** K. Bi…; KAUSHALENDRA…
- **Appellants:** Omkara Assets…; M/s Omkara Assets…
- **Respondents:** Telephone Cables…
- **Other parties:** Babli…; Suni…; +2 more
- **Advocates:** Manish…; Divya S…; +1 more

## Timeline

- **2003 — Winding up petition…**: CP No.272 of 2003 filed against Telephone Cables Limited in the Punjab & Haryana High…
- **2015-07-24 — Winding up ord…**: The Punjab & Haryana High Court passed a winding-up order against Telephone Cables…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/telephone-cables-limited-171c152f