Punjab National Bank (Financial Creditor) filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. Reji Abraham (Personal Guarantor) to initiate insolvency resolution proceedings. Mr. Reji Abraham had provided a personal guarantee for loan facilities availed by foreign entities, namely Aban Holdings Pte. Ltd., Aban Abraham Pte. Ltd., and Aban International Norway AS (collectively, 'Principal Borrowers' or 'Corporate Debtors'). The total debt amount is stated as Rs. 896,00,00,000/-, with the date of default being 07.01.2026. The core contention revolved around the maintainability of the petition before the NCLT Chennai Bench, given that the Principal Borrowers are foreign entities incorporated and registered outside India, and thus
…Punjab National Bank (Petitioner/Financial Creditor) filed a petition CP(IB)/177(CHE)/2026 under Section 95 of IBC, 2016.
The petition was filed against Reji Abraham (Respondent/Personal Guarantor) to initiate insolvency resolution process.
Reji Abraham stood as a personal guarantor for loan facilities availed by Aban Holdings Pte. Ltd., Aban Abraham Pte. Ltd., and Aban International Norway AS.
Aban Holdings Pte. Ltd. is referred to as the 'Principal Borrower' and 'Corporate Debtor'.
The Principal Borrowers are foreign entities incorporated and registered outside India.
The amount of debt is stated as Rs.896,00,00,000/- (Rupees Eight Hundred and Ninety Six Crores only).
The date of default is stated as 07.01.2026.
A notice in Form-B was issued on 08.01.2026.
…Sign in to view the parties.
Construction Agreement dated 03.08.2005…
Bank sanctioned a foreign currency loan…
Punjab National Bank (Financial Creditor) filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. Reji Abraham (Personal Guarantor) to initiate insolvency resolution proceedings. Mr. Reji Abraham had provided a personal guarantee for loan facilities availed by foreign entities, namely Aban Holdings Pte. Ltd., Aban Abraham Pte. Ltd., and Aban International Norway AS (collectively, 'Principal Borrowers' or 'Corporate Debtors'). The total debt amount is stated as Rs. 896,00,00,000/-, with the date of default being 07.01.2026. The core contention revolved around the maintainability of the petition before the NCLT Chennai Bench, given that the Principal Borrowers are foreign entities incorporated and registered outside India, and thus
…Punjab National Bank (Petitioner/Financial Creditor) filed a petition CP(IB)/177(CHE)/2026 under Section 95 of IBC, 2016.
The petition was filed against Reji Abraham (Respondent/Personal Guarantor) to initiate insolvency resolution process.
Reji Abraham stood as a personal guarantor for loan facilities availed by Aban Holdings Pte. Ltd., Aban Abraham Pte. Ltd., and Aban International Norway AS.
Aban Holdings Pte. Ltd. is referred to as the 'Principal Borrower' and 'Corporate Debtor'.
The Principal Borrowers are foreign entities incorporated and registered outside India.
The amount of debt is stated as Rs.896,00,00,000/- (Rupees Eight Hundred and Ninety Six Crores only).
The date of default is stated as 07.01.2026.
A notice in Form-B was issued on 08.01.2026.
…Construction Agreement dated 03.08.2005…
Bank sanctioned a foreign currency loan…