# Gopal Trading Company vs. Mr. Ravindra Kumar Goyal, Resolution Professional of Matrushri Fibres Private Limited & Ors.

> NCLAT judgment dated 17 Mar 2026. Citation: TCN-2026-NCLAT-00113. Gopal Trading Company (Operational Creditor/Appellant) initiated Corporate Insolvency…

- **Court:** NCLAT
- **Order date:** 17 Mar 2026
- **Citation:** TCN-2026-NCLAT-00113
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/gopal-trading-company-vs-mr-ravindra-kumar-goyal-resolution-professional-of-matr-yz65a

## Summary

### Background

Gopal Trading Company (Operational Creditor/Appellant) initiated Corporate Insolvency Resolution Process (CIRP) against Matrushri Fibres Private Limited (Corporate Debtor) by filing a Section 9 application under the Insolvency and Bankruptcy Code, 2016 (IBC), leading to the Corporate Debtor's admission into CIRP on September 25, 2023. Mr. Ravindra Kumar Goyal was appointed Interim Resolution Professional (IRP) and subsequently confirmed as Resolution Professional (RP). The Committee of Creditors (CoC) comprised solely of two government tax departments: Assistant Commissioner of GST and Assistant Commissioner of State Tax, holding 95.01% and 4.99% vote-share respectively. During the CIRP, the RP encountered non-cooperation from the Corporate Debtor's suspended

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## Facts

Gopal Trading Company (Appellant), an Operational Creditor, filed a Section 9 application under IBC, leading to the admission of Matrushri Fibres Private Limited (Corporate Debtor) into CIRP on 25.09.2023.

Mr. Ravindra Kumar Goyal was appointed Interim Resolution Professional (IRP) and later confirmed as Resolution Professional (RP) for Matrushri Fibres Private Limited.

The Committee of Creditors (CoC) consisted only of two Operational Creditors: Assistant Commissioner of GST and Assistant Commissioner of State Tax, holding 95.01% and 4.99% vote-share respectively.

The RP initiated contempt proceedings against the Appellant for initial non-deposit of CIRP costs, after which Rs. 2 lakhs was deposited on 29.08.2024.

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority exceeded its jurisdiction in holding the initiation of CIRP as …

**Ratio:** Section 65 of the IBC allows the Adjudicating Authority to interdict the abuse of the

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**Reasoning:** The NCLAT affirmed that the Adjudicating Authority is mandated to safeguard the IBC

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**Interpretation:** Section 65 of IBC is interpreted broadly, empowering the Adjudicating Authority

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**Application:** The NCLAT concluded that the Adjudicating Authority did not err by initiating

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** GOPAL TRADING…
- **Respondents:** MATRUSHRI FIBRES…; RAVINDRA KUMAR…; +3 more
- **Other parties:** Insolvency and…; Corporate…; +13 more

## Timeline

- **2022-01-11 — Legal Notice…**: Appellant issued a legal notice to the Corporate Debtor demanding payment of outstanding…
- **2023-09-25 — CIRP Admi…**: The Corporate Debtor, Matrushri Fibres Private Limited, was admitted into Corporate…

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