# In the matter of J V GOKAL AND COMPANY PRIVATE LIMITED

> NCLT judgment dated 2026-02-19. Citation: TCN-2026-NCLT-00158. Baghmari Tea Company Limited filed an application under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 19 Feb 2026
- **Citation:** TCN-2026-NCLT-00158
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/j-v-gokal-and-company-private-limited-329fff6a

## Summary

### Background

Baghmari Tea Company Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against JV Gokal & Company Pvt. Ltd. seeking commencement of CIRP, appointment of IRP, and declaration of moratorium.

## Facts

Baghmari Tea Company Limited filed an application under Section 9 of the IBC against JV Gokal & Company Pvt. Ltd.

The application sought commencement of CIRP, appointment of IRP, and declaration of moratorium.

The Operational Creditor claimed a debt of Rs. 1,90,76,987.50/-.

The Corporate Debtor acknowledged the debt but failed to make complete payments.

The Operational Creditor issued a demand notice dated 11.06.2025 to the Corporate Debtor.

The Corporate Debtor filed a reply admitting the dues.

The Applicant has produced before us the record of default being Form-D which is in "deemed to be authenticated" status.

The Adjudicating Authority admitted the application and initiated CIRP.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can admit …

**Ratio:** The Adjudicating Authority can admit an application under Section 9 of the IBC if the

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**Reasoning:** The Adjudicating Authority must be satisfied that all the requirements under Section 9 of

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**Interpretation:** The IBC provides a framework for the resolution of insolvency and bankruptcy,

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**Application:** In this case, the Adjudicating Authority found that all the requirements under

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## Parties

- **Judges:** NILESH S…; SAMEER…
- **Appellants:** Baghmari Tea…
- **Respondents:** J V Gokal &…; J V Gokal And…
- **Other parties:** RSDS Advisory &…
- **Advocates:** Nausher…; Mrunali La…; +1 more

## Timeline

- **2025-09-25 — Notice I…**: Notice was issued by…
- **2025-10-18 — Reply Fi…**: Reply was filed by the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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