Authority: National Company Law Appellate Tribunal (NCLAT) at Chennai, comprising Justice N. Seshasayee (Member - Judicial) and Jatindranath Swain (Member - Technical)
Order Date: 06 November 2026
Case Overview
This order pertains to a cluster of interconnected company appeals and interlocutory applications (IAs) related to the corporate insolvency resolution process of Mata Energy Ltd. The primary appeals are Company Appeal (AT) (CH) (Ins) No. 161/2025 and No. 301/2025, heard along with IA Nos. 1206 & 1080/2025 in Company Appeal (AT) (CH) (Ins) No. 69/2025.
The Appellant in these matters is a consortium comprising Varma Steels Pvt. Ltd. and an individual, AVP Varma, who is the Successful Resolution Applicant (SRA) for Mata Energy Ltd. The Respondents include CA B Nagabhushan, who is the Resolution Professional and Chairman of the Monitoring Committee of Mata Energy Ltd., among others.
The nature of the proceedings involves appeals challenging orders or actions related to the corporate insolvency resolution process. The specific allegations or disputes are not detailed in this procedural order, which focuses solely on scheduling and the continuation of an existing interim arrangement.
Final Outcome
The Tribunal adjourned the hearing of the appeals and listed them for the next date of hearing on 18 November 2026. Crucially, the Bench ordered that until the next date, the Interim Order previously passed in Company Appeal (AT) (CH) (Ins) No. 69/2025 shall continue to remain in force. This indicates that the status quo or specific protections granted by that earlier interim order are maintained until the next hearing.
- Topics: NCLAT, Corporate Insolvency, Interim Order