NCLT admits insolvency petition, CIRP begins against Kallam Textiles

NCLT admitted insolvencyRegulatory & Legal View source PDF Explain this filing

Price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-1.8%Reaction day

₹2.73

prior close

₹2.69

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-1.8% vs market

Other Textile Products peers, median of 183sector+0.2%-2.0% vs sector

On the reaction day the stock moved 1.8 pts less than Nifty Microcap 250 and 2.0 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.0

10m

+0.4

15m

+0.4

30m

+0.0

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.8-0.1-1.8+0.2-2.0

Next day

-2.9+2.0-5.0+1.6-4.6

-3.7+2.0-5.7+1.0-4.6

-5.5+4.6-10.1+2.9-8.4

-1.1+5.8-6.9+3.6-4.7

-0.7+7.1-7.8+4.9-5.6

+0.0+7.6-7.6+4.9-4.9

15d

-2.9+10.8-13.8+4.7-7.6

-4.8+12.6-17.3+6.8-11.6

+0.0+13.5-13.5+3.2-3.2

-6.6+19.7-26.3+2.6-9.2

UpDownMarket · Nifty Microcap 250Sector · Other Textile Products peers, median of 183Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

NCLT Amaravati admitted Union Bank of India's insolvency petition against Kallam Textiles under Section 7 of IBC, 2016. Default of Rs. 210.49 crore. CIRP commenced, moratorium declared, Board suspended. Mr. Chillale Rajesh appointed as Interim Resolution Professional.

Likely market impact

Company enters insolvency resolution. Board suspended, IRP takes control. Shareholders face high risk of dilution or liquidation value.