# Gagan Jhavar, Liquidator of Arya Filaments Pvt Ltd vs. Surendra Kumar Agrawal & Ors

> NCLT judgment dated 2026-10-07. Citation: TCN-2026-NCLT-01251. Mr. Gagan Jhavar, Liquidator of M/s Arya Filaments Private Limited (Corporate Debtor), filed an…

- **Court:** NCLT
- **Order date:** 7 Oct 2026
- **Citation:** TCN-2026-NCLT-01251
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/arya-filaments-private-limited-bsn2g

## Summary

### Background

Mr. Gagan Jhavar, Liquidator of M/s Arya Filaments Private Limited (Corporate Debtor), filed an application under Section 19(2) of the IBC, 2016 read with Regulation 9 of the IBBI (Liquidation Process) Regulations, 2016. The application seeks directions for Respondent Nos. 1 to 6 to cooperate and provide information and documents of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated on 17.08.2018. A Resolution Plan was approved on 23.10.2020 but was not complied with, leading to the liquidation of the Corporate Debtor on 02.11.2023. The Liquidator faced significant challenges in obtaining necessary records and assets, including discrepancies in Tally data and missing registers. An additional affidavit also brought to light the

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## Facts

Mr. Gagan Jhavar is the Liquidator of M/s Arya Filaments Private Limited (Corporate Debtor).

An application was filed under Section 19(2) of the IBC, 2016 read with Regulation 9 of the IBBI (Liquidation Process) Regulations, 2016, seeking directions for cooperation and provision of information/documents.

Respondent Nos. 1 (Mr. Surendra Kumar Agrawal) and 2 (Mr. Nanuram Agarwal) are the suspended directors of the Corporate Debtor.

Respondent No. 3 (Mr. Ravi Kapoor) was the Interim Resolution Professional and later the Resolution Professional.

Respondent Nos. 4 (Mr. Rajendra Shinde), 5 (Mr. Rajesh Gupta), and 6 (Mr. Sanjiv Gupte) are the successful resolution applicants.

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## Issues and analysis

### Issue 1: Whether Respondent Nos. 1 to 6 are obligated to cooperate with the Liquidator and provide …

**Ratio:** Section 19(2) of the IBC, 2016 empowers the Adjudicating Authority to direct any person

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**Reasoning:** The Liquidator requires information and documents to perform his duties, including

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**Interpretation:** Regulation 9 is broadly interpreted to ensure the Liquidator has access to all

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**Application:** Respondent Nos. 1 and 2 (suspended directors) fall under Regulation 9(1)(a).

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## Parties

- **Judges:** Brajendra Mani…; Man Mohan…
- **Appellants:** Gagan Jhavar,…; Gagan J…
- **Respondents:** M/s Arya Filaments…; Surendra Kumar…; +5 more
- **Other parties:** Committee of…; Kotak Mahindra…; +1 more
- **Advocates:** Ayushi Pa…; Tirth N…; +1 more

## Timeline

- **2018-02-09 — Lease Cance…**: Lease of Plot Nos. 20 and 22B,…
- **2018-06-15 — First Appeal…**: First appeal regarding the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 19(2) — Persons to extend co-operation to interim…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-19)

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