Kindly find the attached Caveat petition in detail
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.1 pts more than Nifty Microcap 250 and 2.3 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Union Bank of India has filed a caveat petition in the DRT Hyderabad against Kallam Textiles Limited, its Managing Director Poluri Venkateswara Reddy, and Joint Managing Director Gurram Venkata Krishna Reddy under Section 18 of the SARFAESI Act, 2002. The bank had earlier classified the company's loan account as a Non-Performing Asset (NPA) on 29-06-2023, issued a demand notice on 11-09-2024, a possession notice on 12-09-2025, and taken symbolic possession of the secured assets. A sale notice dated 06-02-2026 was issued, and the bank states it has already successfully sold the mortgaged properties. The caveat is a precautionary legal move by the bank to prevent the company from obtaining any ex-parte stay orders from the tribunal against the sale.
This is a negative development — the company's mortgaged assets have already been sold by the bank under the SARFAESI Act, and personal liability has been extended to the MD and JMD. Shareholders should be concerned about deeper solvency stress and the risk of further recovery actions against the company and its promoters.