Aban Offshore Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 10/11/2025 ,inter alia, to consider and approve Prior Intimation of Interim ....
Awaiting price reaction for this filing.
Aban Offshore has informed BSE that a meeting is scheduled on November 10, 2025 to consider and approve the Un-Audited Financial Results for the quarter ended September 30, 2025, on both standalone and consolidated basis. This meeting will be conducted by the Interim Resolution Professional (IRP), Shailesh Desai, in place of the suspended Board of Directors. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, following an NCLT Chennai order dated September 1, 2025. A moratorium has been declared, and the roles of the Board, Audit Committee, and other committees have been taken over by the IRP. The filing is made under Regulation 29(1)(a) of SEBI LODR Regulations to comply with quarterly disclosure obligations.
This filing is purely procedural — the company is under insolvency and the Board has been suspended. The Q2 results may reveal further stress on the business. Shareholders face uncertainty as equity could be significantly diluted or wiped out depending on the resolution plan approved under CIRP.