Kindly find the attached Show case Notice 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 1.9 pts more than Nifty Microcap 250 and 1.5 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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Kallam Textiles has received a Show Cause Notice from the High Court of Andhra Pradesh in Civil Revision Petition (CRP) No. 2795 of 2025 filed by Indian Bank. The bank is pursuing recovery of loan dues of approximately Rs. 141.93 crore from the company and its directors/promoters acting as guarantors. Indian Bank had originally filed OA/914/2024 before the Debt Recovery Tribunal (DRT), Visakhapatnam, but challenged an adverse DRT order that expunged the bank's witness evidence. The High Court has issued notice to the company and six directors to respond within four weeks, and has also granted an interim stay on further proceedings in the DRT matter. The case highlights serious financial stress, with the company and its promoters facing a very large recovery suit from a public sector bank.
This is a significant negative development for shareholders, indicating that a public sector bank is actively pursuing a recovery of nearly Rs. 142 crore from the company. The interim stay on DRT proceedings means the recovery process is delayed but not dismissed, and the outcome could materially affect the company's financial position, promoter shareholdings, and ongoing operations.