# In the matter of HOSHIAR NIRVAIR TRACTORS PRIVATE LIMITED

> NCLT judgment dated 2025-08-29. Citation: TCN-2025-NCLT-01319. An application was filed by the Resolution Professional, Parminder Singh Bhullar, for…

- **Court:** NCLT
- **Order date:** 29 Aug 2025
- **Citation:** TCN-2025-NCLT-01319
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hoshiar-nirvair-tractors-private-limited-a04733a8

## Summary

### Background

An application was filed by the Resolution Professional, Parminder Singh Bhullar, for initiating the liquidation process of the Corporate Debtor, Hoshiar Nirvair Tractors Private Limited, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016.

## Facts

SNK Rolling Bearing, an Operational Creditor, initiated CIRP against Hoshiar Nirvair Tractors Private Limited under Section 9 of the IBC.

Mr. Sanjay Arora was initially appointed as the Interim Resolution Professional (IRP).

The CoC approved the appointment of Mr. Parminder Singh Bhullar as the Resolution Professional (RP) with 100% voting shares, replacing Mr. Sanjay Arora.

Despite publishing Form G twice, no Expression of Interest (EOI) was received from any interested resolution applicant.

The Corporate Debtor possesses land, building, plant, and machinery, which were valued by appointed valuers.

The CoC, in its 8th meeting, approved the liquidation of the Corporate Debtor with 100% votes due to the absence of a resolution plan.

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be …

**Ratio:** Section 33(2) of the Insolvency and Bankruptcy Code, 2016 allows for the initiation of

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**Reasoning:** Despite multiple attempts to solicit resolution plans through the publication of Form G,

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**Interpretation:** The absence of a resolution plan indicates the inability to revive the

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**Application:** Since no resolution plan was received, and the CoC approved liquidation, the

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## Parties

- **Judges:** KHETRABASI…; KAUSHALENDRA…
- **Appellants:** Parminder Singh…
- **Respondents:** Hoshiar Nirvair…
- **Other parties:** Punjab National…; Sanjay…; +2 more
- **Advocates:** A.S Lik…

## Timeline

- **N/A — Initiation…**: SNK Rolling Bearing filed an application under Section 9 of the Code for initiating CIRP…
- **2022-08-05 — Appointment…**: Mr. Sanjay Arora was appointed as the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33 — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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