Newspaper Publications of Form A under Reg 6 of IBC.
Awaiting price reaction for this filing.
Aban Offshore Ltd has filed newspaper publications of Form A under Regulation 6 of the IBC, confirming that the NCLT Chennai Bench has ordered the commencement of a Corporate Insolvency Resolution Process (CIRP) against the company. The CIRP commenced on 1st September 2025, with Shailesh Desai appointed as the Interim Resolution Professional (IRP) on 10th October 2025. Creditors have been asked to submit their claims by 28th October 2025, and the insolvency resolution process is targeted to close by 28th February 2026. The public notice appeared on 15th October 2025 in Economic Times (Chennai & Mumbai), Makkal Kural (Chennai), and Navshakti (Mumbai).
This is a major negative event for shareholders — the company has formally entered insolvency proceedings, meaning equity could be heavily diluted or wiped out depending on the resolution plan. Shareholders should expect high stock price volatility and should monitor the IRP's actions and any resolution plan closely.