ABANNSEAban Offshore Limited· Oil Exploration/ProductionCriticalNegative
Announced Mon, 1 Sept, 2025 · 15:53 IST
NCLT admits PNB application over INR 366.09 crore debt default
Price reaction
Awaiting price reaction for this filing.
AI summary
The National Company Law Tribunal, Chennai admitted Punjab National Bank's application against Aban Offshore under Section 7 of the Insolvency and Bankruptcy Code for a default of INR 366.09 crore. The order copy is awaited, formally beginning the company's corporate insolvency resolution process.
Likely market impact
Shareholders face greater uncertainty as the company enters formal insolvency resolution, potentially affecting operations, debt recovery and equity value.