NCLAT order
Awaiting price reaction for this filing.
The Hon'ble NCLAT Chennai passed an order on 10th April 2026 in Company Appeal (AT) (CH) (Ins) No.477/2025 filed by Reji Abraham, the Suspended Managing Director of Aban Offshore Ltd, against Punjab National Bank & Anr. The matter pertains to the ongoing Corporate Insolvency Resolution Process (CIRP) of the company. A request for adjournment was made by the appellant's counsel due to a prior professional engagement. The Tribunal adjourned the case to 02.06.2026 and directed that any existing Interim Order shall continue till the next date of hearing. No final order has been passed — this is a procedural adjournment in an existing CIRP-related appeal.
The continuation of the interim order maintains the status quo during the ongoing insolvency resolution process. The adjournment delays any potential resolution of the appeal but does not alter the company's current insolvency status. Shareholders should note that the CIRP remains active with no material change in circumstances.