NCLAT Order on Kallam Textiles Insolvency Appeal

Kallam Textiles Ltd announced that the National Company Law Appellate Tribunal (NCLAT), Chennai Bench, passed an order on June 18, 2026, in Company Appeal (AT) (CH) (Ins.) No. 291 of 2026. The appeal was filed by the suspended directors challenging an earlier NCLT order admitting a Corporate Insolvency Resolution Process (CIRP) initiated by Union Bank of India. The NCLAT overruled minor defects in the appeal and addressed the appellants' plea for a stay on the CIRP. The company stated that its business operations will continue and it will inform stock exchanges of further material developments.