Kallam Textiles NCLT Admits Union Bank Insolvency Petition

NCLT Amaravati Bench admits Union Bank's Section 7 IBC petition against Kallam Textiles for default of ₹210.49 crore.
Corporate Insolvency Resolution Process initiated with appointment of Rajesh Chillale as Interim Resolution Professional.
Moratorium declared under Section 14 IBC prohibiting legal proceedings against the company effective immediately.
Financial creditor directed to deposit ₹4 lakhs for IRP expenses with admission order dated 6th April 2026.