DRI Appeals NCLAT Order in Bharath Coal Chemicals Liquidation

Authority: National Company Law Appellate Tribunal, Chennai (Appellate Jurisdiction)

Order Date: July 6, 2026

Case Overview

The Directorate of Revenue Intelligence (DRI) Kolkata Zonal Unit has filed an appeal before the National Company Law Appellate Tribunal (NCLAT) at Chennai. The appeal is registered as Company Appeal (AT) (CH) (Ins) No.449/2023 with Interlocutory Applications numbered IA Nos.1397 & 1395/2023. The appellant is challenging an order related to the liquidation proceedings of Bharath Coal Chemicals Ltd., where P. Sriram serves as the liquidator. The case involves the DRI as the appellant versus P. Sriram (Liquidator of Bharath Coal Chemicals Ltd.) and three other respondents. The matter was heard in hybrid mode with legal representation from both sides: Ms. Pooja Jain (advocate for Mr. Sai Srujan Tayi) represented the appellant, while Mr. Bathri Narayan and Dr. S. Sathiyanarayanan (for respondent R1) represented the respondents.

Final Outcome

The bench comprising Justice Sharad Kumar Sharma (Member Judicial) and Jatindranath Swain (Member Technical) reserved judgment on July 6, 2026. The final ruling is pending and will be delivered at a later date.

Topics: NCLAT Appeal, Liquidation Proceedings, Revenue Intelligence