Legal7 Apr 2026, 10:17 am
Union Bank of India Initiates Insolvency Proceedings Against Kallam Textiles Ltd
AI Summary
Union Bank of India has initiated insolvency proceedings against Kallam Textiles Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. The National Company Law Tribunal, Amaravati Bench, has admitted the petition. The IRP is appointed. The default amount is Rs.2,10,49,16,990.77 as on 31.10.2025.
Key Highlights
- Union Bank of India has initiated insolvency proceedings against Kallam Textiles Ltd.
- The National Company Law Tribunal, Amaravati Bench, has admitted the petition.
- The IRP is appointed for the case.
- The default amount is Rs.2,10,49,16,990.77 as on 31.10.2025.
- The case is under the territorial jurisdiction of the Amaravati Bench of the National Company Law Tribunal.