# Balakrishnan Baburajan, Liquidator of Goodwin Packpet Private Limited vs. Murali Narayanan & Ors.

> NCLT judgment dated 2026-10-15. Citation: TCN-2026-NCLT-01222. The Liquidator of Goodwin Packpet Private Limited filed an application under Sections 19(2) and…

- **Court:** NCLT
- **Order date:** 15 Oct 2026
- **Citation:** TCN-2026-NCLT-01222
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/goodwin-packpet-private-limited-pgnd3

## Summary

### Background

The Liquidator of Goodwin Packpet Private Limited filed an application under Sections 19(2) and 34(3) of the Insolvency and Bankruptcy Code, 2016, seeking directions against the suspended Directors (Respondents 1-6) to deposit a cash balance of Rs. 2,07,826/- into the liquidation account and to hand over complete details of debtors and company records. The application also sought a direction for Respondent No. 1 to deposit Rs. 12,61,608/- owed by Goodwin Traders. The application was initially dismissed on the grounds of res judicata but was subsequently remitted by the NCLAT for fresh consideration.

## Facts

An Interlocutory Application (IA(IBC)/117/KOB/2022) was filed by the Liquidator of Goodwin Packpet Private Limited under Sections 19(2) and 34(3) of the IBC, 2016.

The Applicant, Mr. Balakrishnan Baburajan, was appointed Liquidator of Goodwin Packpet Private Limited (the Corporate Debtor) on 11.01.2021.

The application sought directions against Respondents 1 to 6, identified as suspended Directors of Goodwin Packpet Private Limited (in Liquidation).

The reliefs sought included directing Respondents 1-6 to deposit a cash balance of Rs. 2,07,826/- into the liquidation account and to hand over complete details of debtors and company records.

…

## Issues and analysis

### Issue 1: Whether the suspended Directors (Respondents 1-6) are jointly and severally liable to deposit the …

**Ratio:** Directors of a Corporate Debtor have a joint and several statutory obligation to account

…

**Reasoning:** The financial statements, including the 'Cash in Hand' entry of Rs. 2,07,826/-, were

…

**Interpretation:** Sections 19(2) and 34(3) of IBC impose a duty on personnel of the corporate

…

**Application:** All Respondents (1-6), being directors, are jointly and severally liable to

…

## Parties

- **Judges:** Shri. Vina…; SHRI. RAVICHANDRAN…
- **Appellants:** Balakrishnan…; Balakrishnan…
- **Respondents:** Goodwin Packpet…; Murali Nar…; +5 more
- **Other parties:** CSB Bank L…
- **Advocates:** Sankar. P.…; Rahul Veng…

## Timeline

- **2022-06-03 — Date of Inst…**: The Interlocutory Application…
- **2021-01-11 — Liquidator App…**: Mr. Balakrishnan Baburajan was appointed as the Liquidator of Goodwin Packpet Private…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-kochi/goodwin-packpet-private-limited-pgnd3