# In the matter of Hyper Techno Buildmart Pvt. Ltd. IA No. l94,475,476 & 512-JPR-2022 in CP No. (IB)- 146-7-JPR-2020 > NCLT judgment dated 2022-10-19. Citation: TCN-2022-NCLT-00668. The case involves an application under Section 7 of the IBC, 2016, filed by financial creditors… - **Court:** NCLT - **Order date:** 19 Oct 2022 - **Citation:** TCN-2022-NCLT-00668 - **Category:** IBC - **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/hyper-techno-buildmart-pvt-ltd-ia-no-l94475476-512-jpr-2022-in-cp-no-ib-146-7-jp-13db0e68 ## Summary ### Background The case involves an application under Section 7 of the IBC, 2016, filed by financial creditors against a corporate debtor. Several interim applications were filed by the Resolution Professional concerning the constitution of the Committee of Creditors, appointment of an Authorized Representative for home buyers, and confirmation of the Resolution Professional. ## Facts The National Company Law Tribunal, Jaipur Bench, heard several interim applications in the matter of Shakuntala Joshi & Ors. versus M/s Hyper Techno Buildmart Pvt. Ltd. The proceedings were conducted through a web-based video conferencing platform. The primary application was filed Under Section 7 of IBC, 2016 by the financial creditors against the corporate debtor. During the hearing for IA No. 194/JPR/2022, it was noted that Respondent Nos. 1 & 2 were not appearing despite the Resolution Professional being directed to adopt substituted service by publishing notices in two daily newspapers. An affidavit confirming this publication was filed, but the respondents still showed no interest in participating. Consequently, the NCLT decided to issue bailable … ## Issues and analysis ### Issue 1: Whether bailable warrants should be issued against Respondent Nos. 1 & 2 for non-appearance … **Ratio:** Bailable warrants are to be issued to secure the presence of parties who fail to appear … **Reasoning:** The NCLT noted that despite directions for substituted service through newspaper … **Interpretation:** The court interpreted the non-appearance after substituted service as a … **Application:** Bailable warrants for Rs. 2,000/- were issued against Respondent Nos. 1 & … ## Parties - **Judges:** Deep Chandr…; Prasanta Kumar… - **Appellants:** Shakuntala Joshi… - **Respondents:** M/s Hyper Techno…; Mukesh Ch…; +1 more - **Advocates:** For the Applicant:… ## Timeline - **October 19, 2022 — Order Da…**: The date on which the NCLT passed the order… - **November 29, 2022 — Next Hearin…**: The date on which the bailable warrants issued against Respondent Nos. 1 & 2 are… ## 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) --- 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-division-bench-court-i-chenn/hyper-techno-buildmart-pvt-ltd-ia-no-l94475476-512-jpr-2022-in-cp-no-ib-146-7-jp-13db0e68