Athena India Opportunities Granted Supreme Court Appeal

Authority: Supreme Court of India

Order Date: 12-06-2026 (date of digital signature)

Case Overview

• Petitioner: Athena India Opportunities; Respondents: Bhuvan Madan & Ors.
• The appeal arises from impugned final judgments and orders dated 20-05-2026 passed by the National Company Law Appellate Tribunal (CAAT(I) Nos. 302/2026, 303/2026, 315/2026, 316/2026).
• Separate stay application was filed against the NCLAT order dated 16-02-2026.
• Counsel for petitioner: Mr. Karan Bharihoke, Adv.; Mr. Pritam Bishwas, Adv.; Mr. Harsh Singhal, Adv.; AOR Mr. Utkarsh Singhal.
• Counsel for respondents: Mr. Ashish Pandey, AOR.
• Bench: Hon'ble Mr. Justice Prashant Kumar Mishra and Hon'ble Mr. Justice Atul S. Chandurkar (Partial Court Working Days Bench).

Order Details

1. Permission to file the civil appeal is granted.

2. Notice to be issued to the respondents, returnable on 25-06-2026.

3. A stay of the order passed by the National Company Law Tribunal on 16-02-2026 is continued.

4. The Committee of Creditors (CoC) shall consider and decide the petitioner's Resolution Plan before the next date of hearing; any steps taken in the subject proceedings before NCLT or by the CoC remain subject to the final outcome of this appeal.

Final Outcome

• The Supreme Court allows the petitioner to proceed with a civil appeal, stays the earlier NCLAT order, mandates issuance of notice to respondents, and directs the CoC to evaluate the resolution plan pending the appeal's resolution.

Topics: Insolvency, Court Order