Prior intimation of first meeting of Committee of Creditors.
Awaiting price reaction for this filing.
Aban Offshore Limited, currently undergoing Corporate Insolvency Resolution Process (CIRP), has informed stock exchanges that the first meeting of the Committee of Creditors (CoC) will be held on Thursday, 13th November 2025 in Mumbai and via video conferencing. The intimation is filed under the Insolvency and Bankruptcy Code, 2016, and signed by the Interim Resolution Professional (IRP), Mr. Shailesh Desai. The appointment of an IRP and the convening of the first CoC meeting indicate that insolvency proceedings against the company have already been admitted.
This is a negative development for shareholders — the company is formally in insolvency resolution, which typically puts equity value at high risk. Expect continued stock price pressure and uncertainty as the CoC evaluates revival or liquidation options.