The National Company Law Appellate Tribunal (NCLAT) Chennai has deferred the hearing of an appeal involving Reji Abraham, the Suspended Managing Director of Aban Offshore Limited, and Punjab National Bank. The tribunal has scheduled the next hearing for July 13, 2026, as the appellant's counsel cited subsequent developments relevant to the adjudication of the case on merits.

The appeal, registered as Company Appeal (AT) (CH) (Ins) No.477/2025, arises from the Corporate Insolvency Resolution Process (CIRP) involving Aban Offshore Limited. The legal proceedings contest the interim order previously passed, with the appellant seeking relief against the respondents, which include Punjab National Bank.

Until the matter is taken up in the second week of July, the interim order dated January 21, 2026 will continue to operate. This order maintains the status quo regarding the operational and financial aspects under dispute during the pendency of the insolvency proceedings.

The order was passed by a bench comprising Justice Sharad Kumar Sharma, Member (Judicial), and Jatindranath Swain, Member (Technical), via a hybrid mode hearing. The tribunal listed the matter specifically for July 13, 2026, to allow for further arguments based on the new developments presented by the appellant's counsel.

Case Details

Aban Offshore Limited, currently undergoing the Corporate Insolvency Resolution Process (CIRP), has informed the stock exchanges that it will be unable to submit its audited financial results for the quarter and year ended March 31, 2026, on the originally scheduled date. The delay is attributed to the ongoing compilation, verification, and reconciliation of financial data and supporting records for the reporting period.

The company stated that the preparation of financial statements for the year ending March 31, 2026, is still in progress. The team is actively working to compile and reconcile information from both physical and electronic sources, a process that requires considerable time and effort to ensure accuracy.

Shailesh Desai, the Resolution Professional for Aban Offshore Limited, assured the exchanges that the audited financial results would be submitted at the earliest possible time once the complete and reconciled financial information is available. The intimation was addressed to BSE Ltd and the National Stock Exchange of India Ltd.

The company expressed regret for the inconvenience caused by this delay. Aban Offshore Limited is listed on both exchanges with the scrip code 523204 on the BSE and the symbol ABAN on the NSE.