Central Bank withdraws insolvency petition against Aban Offshore; Stock dips 1%

13 Sep 2022 , 12:23 PM

Aban Offshore Limited stocks in focus  after the announcement of settlement agreement with Central Bank of India – Payment made – Filing of Withdrawal application before NCLT.

According to the regulatory filing, pursuant to the execution of settlement agreement with Central Bank of India and payment having been made accordingly, application filed by Central Bank of India against the Company has been withdrawn on Monday, the company said.

The company has repaid outstanding principal of Rs121.78 crore to the bank, is in talks with other lenders for debt resolution plan.

On Tuesday, at around 12:21 PM, Aban Offshore Ltd is currently trading at Rs58.75 per share down by Rs0.6 or 1.01% from its previous closing of Rs59.35 per share on the BSE.

The scrip opened at Rs59.10 per share and has touched a high and low of Rs60.60 per share and Rs58.30 per share respectively so far today. The current market cap of the company is Rs346.40 crore.

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