# In the matter of HERO ELECTRIC VEHICLES PRIVATE LIMITED

> NCLT judgment dated 2026-04-02. Citation: TCN-2026-NCLT-00316. An application was filed seeking the replacement of the existing Liquidator, Dr. Lekh Raj…

- **Court:** NCLT
- **Order date:** 2 Apr 2026
- **Citation:** TCN-2026-NCLT-00316
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/hero-electric-vehicles-private-limited-a691b02d

## Summary

### Background

An application was filed seeking the replacement of the existing Liquidator, Dr. Lekh Raj Bajaj, with Mr. Abhimanyu Mittal as the Liquidator of the Corporate Debtor, Hero Electric Vehicles Private Limited.

## Facts

Metro Tyres Ltd. initiated the insolvency process against Hero Electric Vehicles Private Limited.

Bank of Baroda filed an application for the replacement of the existing Liquidator.

The Stakeholders' Consultation Committee recommended the replacement of Dr. Lekh Raj Bajaj with Mr. Abhimanyu Mittal as the Liquidator.

Bank of Baroda, as a major financial creditor, was authorized to file the application for replacement.

The NCLT approved the appointment of Mr. Abhimanyu Mittal as the new Liquidator.

## Issues and analysis

### Issue 1: Whether the existing Liquidator, Dr. Lekh Raj Bajaj, …

**Ratio:** Pursuant to the provisions of the Insolvency and Bankruptcy Code, 2016 and the IBBI

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**Reasoning:** The Stakeholders' Consultation Committee, including Bank of Baroda, supported the

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**Interpretation:** The NCLT interpreted the relevant provisions of the IBC and IBBI regulations to

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**Application:** The NCLT applied the provisions of the IBC and IBBI regulations to the specific

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## Parties

- **Judges:** BACHU VENKAT…; RAVINDRA CHATURVED…
- **Appellants:** Metro Tyre…; Bank of B…
- **Respondents:** Hero Electric…
- **Other parties:** Kotak Mahindra…; The South Indian…; +5 more
- **Advocates:** Abhindra Maheshwar…; Abhimanyu…; +6 more

## Timeline

- **2026-03-10 — SCC Meet…**: SCC meeting convened on 10.03.2026, the Resolution for appointment of Mr. Abhimanyu…
- **2026-04-02 — Order Del…**: Order delivered on 02.04.2026, appointing…

## 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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