# M/S IIFL HOME FINANCE LIMITED vs. M/S GOODWILL IRON & STEEL TRADERS PRIVATE LIMITED

> NCLT judgment dated 2026-07-28. Citation: TCN-2026-NCLT-00761. An application (IA No.468/2026) was filed for the replacement of the Interim Resolution…

- **Court:** NCLT
- **Order date:** 28 Jul 2026
- **Citation:** TCN-2026-NCLT-00761
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/ms-iifl-home-finance-limited-vs-ms-goodwill-iron-steel-traders-private-limited-oz2hu

## Summary

### Background

An application (IA No.468/2026) was filed for the replacement of the Interim Resolution Professional (IRP), Mr. Ruchir Batra, who had been appointed by an order dated 09.06.2026. Mr. Batra communicated his inability to continue as RP via an email on 24.06.2026.

## Facts

An application (IA No.468/2026) was filed for the replacement of the Resolution Professional (RP), Mr. Ruchir Batra.

Mr. Ruchir Batra, who was appointed as IRP by an order dated 09.06.2026, expressed his inability to continue as RP via an email sent on 24.06.2026.

The Applicant proposed Mr. Manish Agarwalla as the new RP.

Mr. Manish Agarwalla holds IBBI Regn. No.IBBI/IPA-001/IP-P-02082/2020-2021/13198.

Mr. Manish Agarwalla's written consent in Form 2 is placed at page no.8 of the application and is valid until 31.12.2026.

An order dated 09.06.2026 had directed a fee of Rs.1,00,000/- to be paid to the IRP, Mr. Ruchir Batra.

Mr. Ruchir Batra has not yet taken the ordered fees.

The Financial Creditor is proposing Mr. Manish Agarwalla to receive the said fees.

## Issues and analysis

### Issue 1: Whether the Interim Resolution Professional, Mr. Ruchir Batra, should be replaced due to his …

**Ratio:** An Interim Resolution Professional (IRP) who expresses inability to continue in their

…

**Reasoning:** Mr. Ruchir Batra, the appointed IRP, explicitly communicated his inability to continue as

…

**Interpretation:** The Tribunal considered the prayer for replacement as 'innocuous' given the

…

**Application:** The Tribunal allowed the replacement

…

## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** M/S IIFL HOME…
- **Respondents:** M/S GOODWILL IRON…
- **Other parties:** Ruchir…; Manish Aga…
- **Advocates:** Sh. Gulshan Kumar…

## Timeline

- **2026-06-09 — Initial…**: Order passed appointing Mr. Ruchir Batra as…
- **2026-06-24 — IRP's Ina…**: Mr. Ruchir Batra sent an email…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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