Kallam Textiles Ltd. Receives Caveat Petition from Union Bank of India
Kallam Textiles Ltd. has received a Caveat Petition from Union Bank of India. The petition, filed in the High Court of Andhra Pradesh at Amaravathi, is in response to a notice of 15 days dated 06.02.2026 for the sale of immovable secured assets under the Security Interest (Enforcement) Rules, 2002 of SARFAESI Act. The company had previously availed loan facilities from the bank and created security by way of mortgage for the same. The bank had issued a demand notice under Section 13(2) of SARFAESI Act on 11.09.2024 and a possession notice under Section 13(4) on 12.09.2025. The respondents, aggrieved by the notice, may approach the court and obtain ex parte ad interim orders in W.P. and I.A. against the notice for sale of secured assets.
Key Highlights
- Kallam Textiles Ltd. has received a Caveat Petition from Union Bank of India.
- The petition is in response to a notice of 15 days for the sale of immovable secured assets.
- The company had availed loan facilities from the bank and created security by way of mortgage.
- The bank had issued a demand notice and a possession notice under SARFAESI Act.
- The respondents may approach the court and obtain ex parte ad interim orders.