Authority: Supreme Court of India
Order Date: 12 June 2026
Case Overview
- Petitioners: Athena India Opportunities; Respondents: Bhuvan Madan & Ors.
- Civil Appeal Diary No. 35966/2026 arising from impugned final judgments and orders dated 20‑05‑2026 in CAAT(I) Nos. 302, 303, 315, 316 passed by the National Company Law Appellate Tribunal.
- Applications filed: IA No. 178935/2026 – Permission to file petition (SLP/TP/WP/..); IA No. 178934/2026 – Stay application.
- Hearing held on 11‑06‑2026 before a partial bench of Hon'ble Mr. Justice Prashant Kumar Mishra and Hon'ble Mr. Justice Atul S. Chandurkar.
- Counsel for petitioner: Mr. Karan Bharihoke, Adv.; Mr. Pritam Bishwas, Adv.; Mr. Harsh Singhal, Adv.; AOR Mr. Utkarsh Singhal, Adv.
- Counsel for respondents: Mr. Ashish Pandey, AOR.
Order Details
1. Permission to file the civil appeal is granted.
2. Issue notice to the respondents; the notice is returnable.
3. A stay of the order passed by the National Company Law Tribunal on 16‑02‑2026 is imposed and continued thereafter.
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 shall remain subject to the final outcome of this appeal.
Final Outcome
- The Supreme Court allows the petitioner to proceed with a civil appeal, issues a returnable notice to the respondents, and continues the stay on the NCLT order dated 16‑02‑2026, while directing the CoC to evaluate the petitioner's resolution plan pending the appeal's final determination.
Topics: Insolvency, Court Order