Aban Offshore: Auditor Issues Disclaimer of Opinion for FY26 Results

Aban Offshore Ltd has released its audited standalone financial results for the quarter and year ended March 31, 2026. The company is currently under Corporate Insolvency Resolution Process (CIRP) following an NCLT order on September 1, 2025. The independent auditors, Ford Rhodes Parks & Co. LLP, have issued a disclaimer of opinion due to the non-receipt of bank balance confirmations for deposits totaling INR 592.98 million and bank borrowings of INR 4,148.03 million. Additionally, the auditors noted a material uncertainty regarding the company's ability to continue as a going concern due to accumulated losses, eroded net worth, and liabilities exceeding assets, compounded by defaults on loan payments.