Authority: National Company Law Appellate Tribunal, Chennai
Order Date: November 6, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai is hearing multiple interconnected appeals related to the corporate insolvency resolution process of Mata Energy Ltd. The appeals involve:
- Company Appeal (AT) (CH) (Ins) No. 161/2025: Mata Energy Ltd., Consortium of Varma Steels Pvt. Ltd. & AVP Varma (Successful Resolution Applicant) vs. CA B Nagabhushan (Resolution Professional/Chairman of Monitoring Committee of Mata Energy Ltd.) & 2 Others
- Company Appeal (AT) (CH) (Ins) No. 301/2025 (with IA No. 880/2025): Mata Energy Ltd Consortium of Varma Steels Pvt Ltd & AVP Varma (SRA in matter of Mata Energy Ltd.) vs. CA Nagabhushan (RP/Chairman of Monitoring Committee in matter of Mata Energy Ltd.) & 3 Others
- Company Appeal (AT) (CH) (Ins) No. 69/2025 (with multiple IA applications): Consortium of Varma Steels Pvt. Ltd. & AVP Varma (SRA) vs. B Naga Bhushan (RP of Sri Mata Infratech Ltd.) & 2 Others
The appeals appear to involve disputes between the successful resolution applicant (Consortium of Varma Steels Pvt. Ltd. & AVP Varma) and the resolution professional/monitoring committee regarding the implementation of the resolution plan for Mata Energy Ltd.
Final Outcome
The Tribunal has listed the appeals for hearing on November 18, 2026, immediately after admission. Until the next hearing date, the interim order previously passed in Company Appeal (AT) (CH) (Ins) No. 69/2025 shall continue to remain in effect. The order does not specify the nature of the interim relief granted in the previous order.
Topics: Insolvency Proceedings, NCLAT Appeal, Resolution Plan Dispute