Aban Offshore Limited v. Punjab National Bank

2025:MHC:1849

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 01.08.2025 CORAM :

THE HONOURABLE DR.JUSTICE ANITA SUMANTH and THE HONOURABLE MR.JUSTICE N.SENTHILKUMAR W.P.No. 28750 of 2025 and WMP Nos.32203 of 2025 Aban Offshore Limited represented by its DGM (Legal & Secretary) Mr.S.N.Balaji Having registered Office at Janpriya Crest, No.113, Pantheon Road, Egmore, Chennai - 600 008.

.. Petitioner vs Punjab National Bank, represented by its Authorised Officer, Head Office at Plot 4, Sector 4, Dwaraka, New Delhi - 110 075.

Regional Office:

No.46-49, PNB Towers, Royapettah High Road, Chennai - 600 014.

.. Respondents Prayer: Writ Petition filed under Article 226 of the Constitution of India praying to issue a writ of Mandamus directing the respondent to consider the one-time settlement (OTS) proposal dated 20.06.2025 submitted by the 1/4

petitioner, expeditiously and within such time as may be fixed by this Court.

For Petitioner :

Ms.Hema Srinivasan

ORDER

(Made by Dr. ANITA SUMANTH.,J) Learned counsel for the petitioner seeks permission to withdraw this Writ Petition with liberty to raise the issues before the National Company Law Tribunal (NCLT). She has also made an endorsement to this effect.

2. Recording the endorsement made, the Writ Petition and the connected Miscellaneous Petition are dismissed as withdrawn. The petitioner is always at liberty to bring to the notice of the NCLT the factum of one-time settlement, if any.

[A.S.M., J] [N.S., J] 01.08.2025 Index:Yes/No Speaking Order sl 2/4

To Punjab National Bank, represented by its Authorised Officer, Head Office at Plot 4, Sector 4, Dwaraka, New Delhi - 110 075.

Regional Office:

No.46-49, PNB Towers, Royapettah High Road, Chennai - 600 014.

3/4

DR. ANITA SUMANTH, J.

and N.SENTHILKUMAR, J.

sl W.P.No. 28750 of 2025 and WMP Nos.32203 of 2025 01.08.2025 4/4