Compliance 57 (5) for the quarter ended 31st March 2026.
Awaiting price reaction for this filing.
Aban Offshore Ltd has disclosed that outstanding Non-Convertible Redeemable Preference Shares totaling Rs. 281 crores (including Rs. 20 crores unlisted) have not been redeemed since 2014 and remain under suspension. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under IBC provisions, following an NCLT order dated September 1, 2025. This compliance filing under SEBI's Listing Obligations and Disclosure Requirements Regulations confirms the unresolved preference share obligations, which date back over a decade. The disclosure is signed by the Resolution Professional overseeing the insolvency proceedings.
Shareholders holding preference shares face significant uncertainty as redemption remains suspended during ongoing insolvency proceedings, with recovery dependent on the CIRP outcome.