Legal18 Feb 2026, 04:54 pm
Aban Offshore Ltd. Granted Adjournment for Settlement in Corporate Insolvency Resolution Process
AI Summary
Aban Offshore Ltd., a company undergoing Corporate Insolvency Resolution Process (CIRP) under the National Company Law Tribunal (NCLT) order, has been granted an adjournment by the National Company Law Appellate Tribunal (NCLAT) at Chennai. The adjournment is to facilitate a settlement with Punjab National Bank. The company is directed to list the appeal on 27th March 2026, and if no successful settlement is reached, the appeal will be argued on merits. The interim order of 21st January 2026 continues to operate till then.
Key Highlights
- Aban Offshore Ltd. has been granted an adjournment by the NCLAT Chennai in its Corporate Insolvency Resolution Process.
- The adjournment is to facilitate a settlement with Punjab National Bank.
- The company is directed to list the appeal on 27th March 2026.
- If no successful settlement is reached, the appeal will be argued on merits.
- The interim order of 21st January 2026 continues to operate till the next hearing.
Price Impact
More from ABAN