It has emerged that Mr Batchelor, who had told the Derry group he wanted to join the consortium, held 'secret' takeover talks with Stags owner Keith Haslam and chief executive Stephen Booth at Field Mill on Wednesday afternoon.
Chad understands that the flamboyant businessman now hopes to secure a deal for the football club very quickly, after another dramatic few hours in the takeover saga at Field Mill.
He wants to take over at the Stags while there is still time to avoid relegation from the Football League and is believed to have a management team - including a former England international - ready to join him.
So Thursday could be yet another D-Day for the protracted sale of the club - with both the Derry consortium, which it is thought may try to renegotiate an already agreed a takeover deal, and Mr Batchelor due to meet Mr Haslam.
Chad exclusively revealed earlier today that Mr Batchelor, the owner of York City when it went into administration five years ago, was prepared to launch his own buyout bid if the Derry takeover failed.
- Stags takeover confusion as controversial businessman may step in
But this afternoon his 'secret' meeting angered the Derry consortium - Stags non-executive chairman James Derry and Mansfield businessmen Steve Hymas and Andy Sutton - which has an agreed deal with Mr Haslam.
Afterwards Mr Hymas, who would be chief executive in the short-term if the Derry bid is successful, confronted Mr Batchelor at Field Mill and told him that he was no longer welcome in the consortium.
"We don't need people like him at the club and in our consortium. He did not tell us about this meeting, he has acted in an underhand way and I have told him," Hr Hymas told Chad.
"He has gone behind our backs to meet Keith (Haslam) and Stephen (Booth). We are not prepared to have him in our consortium.
"I have nothing against Keith and Stephen in this, but he didn't have the courtesy to let us know he was going it alone in trying to buy the club.
"We welcomed him to join our deal, showed him our deal, and then welcomed him to the ground on Saturday.
"This is how he repays us. There is no chance that he will be part of our group if we take over."
Mr Hymas added that the consortium was still interested in buying the Stags and will be meeting Mr Haslam on Thursday.The group had invited Mr Batchelor to the Stags' last two matches after he said he wanted to buy into their takeover plan and was prepared to match their individual £100,000+ investment.
The consortium planned to use Mr Batchelor, well known nationally for his 'wacky' fundraising ideas, on the commercial side of the club, bringing in extra revenue from national sources.
And last Thursday Mr Booth announced that the consortium was 'effectively in control' at Field Mill, after takeover talks earlier that day.
However, on Tuesday Mr Derry added that the group's lawyers had yet to see the takeover paperwork which they received only on Saturday.
When asked on Tuesday about his solo interest, Mr Batchelor would only tell Chad: "If other individuals investing in the consortium felt the risk too big to commit to before the end of the season, then I would be prepared to take that risk myself.
"Why would I do it? Because it is a lot easier to try to build the club when it is in Division Two and the Football League, than from the Conference.
"If we act now there is still time to save the club from relegation."
If Mr Batchelor takes over, he says he has a three-strong management team ready to step in to try to save the Stags from relegation. One is a former England international and another could also be used as a player.
And Chad understands that with Thursday being the deadline day for loan signings for the rest of the season, that, too, could play a part in his plans.
The agreed takeover with the Derry consortium would see the group buy Mr Haslam's majority shares in Mansfield Town FC Ltd for £1, pay an annual rent for using Field Mill and have an option to buy the ground in the future.
It has not been made clear if Mr Haslam would repay his outstanding £500,000 loan to the club or what would happen to the minority shareholders in the football club.
But it would appear, given the urgency of Mr Batchelor's plans, that it is this deal which he would want to use as the basis for his takeover.
On Wednesday evening Mr Booth declined to comment when asked by Chad about this afternoon's meeting.
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