NCLAT Order Rejects OTS Proposal in Aban Offshore Ltd's Corporate Insolvency Resolution Process

The National Company Law Appellate Tribunal (NCLAT), Chennai, has released an order dated 27th March 2026, regarding the Corporate Insolvency Resolution Process of Aban Offshore Ltd. The order states that there is no possibility of settlement between the Appellant (Reji Abraham, suspended Managing Director of Aran Offshore Ltd.) and Respondent No.1 (Punjab National Bank & Anr.) based on the OTS proposal. The Appellant is directed to carry out the necessary amendment in the company appeal and ensure service to the Respondent by way of dasti, filing an Affidavit of Service forthwith by the next week. The case is listed for orders on 10th April 2026.