Aban Offshore Navigates Complex Insolvency Path Amidst Settlement Hopes
Aban Offshore Limited, a key player in India’s offshore drilling services sector, remains deep in its Corporate Insolvency Resolution Process (CIRP). The latest development comes from the National Company Law Appellate Tribunal (NCLAT), Chennai, which has pushed back a crucial hearing to March 27, 2026. This delay is intended to provide space for potential settlement discussions between the company’s appellant, Reji Abraham (the suspended MD), and its primary creditor, Punjab National Bank (PNB).
Financial Deep Dive
The company’s financial health has been severely compromised, leading to its current CIRP status, initiated by an NCLT order on September 1, 2025,…