Kindly find the attached Union bank of India Notice in Detail
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Awaiting price reaction for this filing.
Kallam Textiles has received a notice dated October 11, 2025 from Union Bank of India informing the company about the proposed sale of its secured properties. The bank had earlier issued a demand notice on September 10, 2024 under Section 13(2) of the SARFAESI Act, and later taken symbolic possession of the assets on December 10, 2024 and September 12, 2025. Since the company has not cleared its dues, the bank is now moving to sell the properties through a public e-auction after a 30-day notice period. The properties on the block include the company's industrial land, ginning and spinning mills, storage facilities in Guntur (Andhra Pradesh), and a 2.0 MW Hydel Power Project along with related land in Khammam District (Telangana). The bank has also called out the company's MD, Joint MD, and guarantors as parties to the notice.
This is a serious negative development for shareholders — the bank has already classified the loan as non-performing, taken possession of key operating assets, and is now set to auction them. The stock is likely to face heavy selling pressure, and there is a real risk of the company losing its core manufacturing and power assets if dues are not cleared within the 30-day window.