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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Union Bank of India has filed an application against Kallam Textiles Ltd before the Hon'ble National Company Law Tribunal (NCLT) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Insolvency Resolution Process (CIRP) has commenced and an Interim Resolution Professional (IRP) has been appointed. The company has published public notices (Form A) about the CIRP commencement in Financial Express (English) and Andhra Prabha (regional) newspapers. This follows a corporate announcement dated 07th April 2026. The company's scrip code on BSE is 530201.
This is a critical negative development indicating severe financial distress. The company entering CIRP means it is unable to service its debt obligations to Union Bank of India. Existing shareholders face significant risk of equity dilution or total wipeout as the resolution process may involve sale of assets or liquidation.