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Kallam Textiles Limited has informed the BSE that it received notices dated 24-11-2025 from Union Bank of India regarding the sale of its Spinning Unit at Chowdavaram, Guntur, and its Hydel (2.0 MW Hydro Power) Unit at Khammam, Telangana, under Rule 8 of the Security Interest (Enforcement) Rules, 2002. The bank had earlier issued a demand notice on 10.09.2024 under Section 13(2) of the SARFAESI Act and subsequently took possession of the assets after the company failed to clear dues. The total outstanding secured debt stands at approximately Rs. 185.36 crore as on 11.09.2024. The reserve prices are set at around Rs. 69.83 crore for the Spinning Unit land, Rs. 71.81 crore for its plant and machinery, and Rs. 5.65 crore for the Hydel Unit. An e-auction has been scheduled for 30-12-2025 on the baanknet.com portal, though the company has filed a pending case (SA No.51/2025) at the Debt Recovery Tribunal, Visakhapatnam seeking status quo.
This is a serious distress signal for shareholders, as the bank is moving to auction core operating assets (spinning and hydel units) due to loan default. If the auction proceeds, the company could lose major revenue-generating assets, threatening business continuity and significantly eroding shareholder value. The pending DRT case provides some hope of relief, but the outcome remains uncertain.