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The latest announcement is out from Aban Offshore Limited ( (IN:ABAN) ).
Aban Offshore Limited, a listed offshore oil and gas drilling services company, is currently undergoing a Corporate Insolvency Resolution Process under India’s insolvency framework. The company has appointed a resolution professional to oversee proceedings, reflecting ongoing financial distress and heightened uncertainty for shareholders and creditors.
The latest order from the National Company Law Appellate Tribunal (NCLAT) in Chennai, dated 27 March 2026, indicates that a one-time settlement proposal put forward by the suspended managing director was rejected by a major lender, Punjab National Bank. With no settlement possible on the current proposal, the appellate tribunal has cleared the way for the insolvency appeal to proceed on its merits, signaling that restructuring will continue through formal insolvency channels rather than an out-of-court deal.
More about Aban Offshore Limited
Aban Offshore Limited operates in the offshore oil and gas services industry, primarily providing drilling and related offshore exploration services. The company’s shares are listed on both BSE and the National Stock Exchange of India, positioning it among India’s established offshore service providers to the energy sector.
Average Trading Volume: 20,678
Technical Sentiment Signal: Sell
Current Market Cap: 1.3B INR
For a thorough assessment of ABAN stock, go to TipRanks’ Stock Analysis page.