TeleCanor Global Limited has announced its intent to contend a company petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) in 2026. The company received the petition copy and confirmed it had initiated a writ petition in 2026 prior to this IBC filing. Details regarding the case, including the counterparty and company’s contention, are provided in an attached annexure and are also available on the company’s website.
Legal Action Noted
TeleCanor Global Limited has formally responded to a legal notice concerning a company petition (IB No.156/7/HDB/2026) filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The company acknowledges receipt of the petition and has declared its intention to contest the case vigorously. This proactive stance is supported by the fact that TeleCanor Global had already initiated its own legal proceedings by filing a Writ Petition No. 7800 of 2026 prior to the aforementioned IBC petition.
Disclosure Details
The necessary details as mandated by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with specific circulars from SEBI dated January 30, 2026, and February 25, 2025, have been outlined in Annexure I. This information is also accessible on the company’s official website, www.telecanor.com, for public perusal. TeleCanor Global Limited has requested that this disclosure be duly recorded.
Annexure I: Case Specifics
Annexure I provides further details on the matter. Under ‘Particulars’, the involved entity is identified as Phoenix ARC Limited, located in Mumbai. The core of the case involves a loan amount from Dhanalaxmi Bank, which is reportedly being taken over by Phoenix ARC Ltd. TeleCanor Global’s stated contention is that they had already filed a Writ Petition No. 7800 of 2026 before this IBC case was initiated. Information regarding a brief profile and disclosure of relationships between directors is noted as ‘Not Applicable’.
Source: BSE
