Please find the attached Annual Secretarial Compliance Report for the FY 2025-26
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Kallam Textiles filed its Annual Secretarial Compliance Report for FY 2025-26 with a qualified opinion. While the company reported compliance with all SEBI regulations during the review period (April 2025 to March 2026), it disclosed a critical material development: Union Bank of India filed an insolvency petition under the IBC against the company. Although the NCLT Amaravati admitted this application on April 6, 2026 (after the review period ended), the company confirmed that its Board of Directors' powers stand suspended and management has been handed over to an Insolvency Professional. The company had defaulted on term loan repayments to Union Bank of India and Indian Bank since 2023, with loans classified as NPA and SARFAESI possession notices issued earlier.
This is an extremely negative development for shareholders. The CIRP admission effectively means the company is now under insolvency proceedings, with equity shareholders likely facing severe dilution or total loss of investment as creditors take priority in recovery.