Kallam Textiles received a four-week interim stay on insolvency proceedings from NCLAT, Chennai. The company must now present a new restructuring proposal to its lenders.
Kallam Textiles Ltd has obtained an interim stay on Corporate Insolvency Resolution Process (CIRP) proceedings for four weeks from the National Company Law Appellate Tribunal (NCLAT), Chennai Bench. The order was uploaded on June 20, 2026. ## What just happened The NCLAT has put a hold on the CIRP proceedings against Kallam Textiles for a period of four weeks, starting from June 18, 2026. This stay is contingent upon the company’s suspended directors formulating and submitting a new, comprehensive restructuring proposal to the Committee of Creditors (CoC). ## Why this…