Insolvency9 April 2026 at 07:03 am
NCLT Admits Union Bank of India's Insolvency Petition Against Kallam Textiles Ltd
AI Summary
The National Company Law Tribunal (NCLT), Amaravati Bench, has admitted the insolvency petition filed by Union Bank of India against Kallam Textiles Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. The order was delivered on 6th April, 2026, and Mr.Chillale Rajesh has been appointed as the Interim Resolution Professional (IRP). The petition was filed due to a default of Rs.2,10,49,16,990.77 as on 31.10.2025.
Key Highlights
- NCLT admits Union Bank of India's insolvency petition against Kallam Textiles Ltd.
- Default of Rs.2,10,49,16,990.77 as on 31.10.2025.
- Mr.Chillale Rajesh appointed as the Interim Resolution Professional (IRP).