Informative

NCLT Initiates CIRP Against ABAN Offshore; Insolvency Application Allowed by PNB

Update / Judgement Date

17 Oct 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

BankingInsolvency & Bankruptcy Code

NCLT admitted an insolvency petition against ABAN Offshore, filed by PNB. The ruling highlights creditor rights under the IBC and provides a framework for resolution of financial distress in Indian corporate entities.

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NCLT Initiates CIRP Against ABAN Offshore; Insolvency Application Allowed by PNB

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