Saralnama
The National Company Law Tribunal (NCLT) has admitted an insolvency petition against Aban Offshore Ltd filed by a financial creditor under Section 7 of the Insolvency and Bankruptcy Code, 2016, due to a default of Rs. 366.09 crore. This follows previous insolvency-related proceedings involving the company, including a withdrawn application by Central Bank of India after a settlement. Aban Offshore, an Indian offshore drilling services provider, has faced financial challenges and litigation related to loan defaults. The NCLT admission marks a significant development in the ongoing financial restructuring and insolvency resolution process for the company. (Updated 2 Sep 2025, 12:31 IST; source: link)