Intimation of appointment of Interim Resolution Professional as Resolution Professional
Awaiting price reaction for this filing.
Aban Offshore, which is already undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), has confirmed Mr. Shailesh Desai as its Resolution Professional. The Committee of Creditors (CoC) approved his appointment via e-voting that concluded on 26 November 2025, with the requisite majority voting in favour. The appointment was made under Section 22(3)(a) of the IBC, converting his earlier role as Interim Resolution Professional (IRP) into a permanent one. The disclosure is filed in compliance with SEBI LODR Regulations and IBC provisions.
This is a procedural step within the ongoing insolvency process and does not change the company's status. Shareholders continue to face uncertainty as the CIRP progresses; the next key milestones will be the submission and approval of a resolution plan by the CoC, which will determine whether the company gets revived or moves toward liquidation.