Kindly find the attached Caveat Petition received
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Awaiting price reaction for this filing.
Kallam Textiles has informed BSE that Union Bank of India filed a Caveat Petition in the High Court of Andhra Pradesh at Amaravati on March 12, 2026. The petition is linked to a 15-day notice issued by the bank on February 6, 2026, for the sale of the company's immovable secured assets under the SARFAESI Act. The bank had earlier issued a demand notice under Section 13(2) in September 2024 and a possession notice under Section 13(4) in September 2025, following loan defaults. The secured assets facing potential sale include a 2.0 MW Hydro Power Project at Kotha Kothuru Village, multiple agricultural land parcels in Khammam District (Telangana), and the plant, machinery, and fixed assets of the company's Hydel Power Division. Two company directors/officials are also named as respondents. The bank's caveat is a precautionary legal step to ensure it is heard before any ex-parte court order is passed if the company challenges the sale notice.
This filing signals that Kallam Textiles is facing serious loan default issues and SARFAESI enforcement action by Union Bank of India, putting its hydro power assets and related land holdings at risk of forced sale. Shareholders should view this as a negative development that could lead to significant asset erosion and may weigh on the stock price; further updates from the company are expected.