Authority: National Company Law Tribunal (NCLT), Division Bench–I, Chennai
Order Date: 12.06.2026
Case Overview
This order pertains to an application (IA(IBC)(DIS)/20/CHE/2026) filed for the dissolution of the Corporate Debtor, Hitro Energy Solutions Pvt. Ltd. The application arises from the main petition CP(IB)/708/CHE/2017, filed by Consolidated Construction Consortium Ltd. The hearing was attended by the Liquidator, Ms. B. Mekala, who provided a status update on the liquidation process.
The Liquidator reported that the amount realized from the auction of the corporate debtor's assets was minimal, totaling only Rs. 3,53,000. Furthermore, the Corporate Insolvency Resolution Process (CIRP) and liquidation costs, amounting to Rs. 22,00,000, have been paid by the creditors. The Liquidator also confirmed that there are no applications pending concerning Preferential, Undervalued, Fraudulent, or Extortionate (PUFE) transactions.
Final Outcome
The Tribunal did not issue a final order on the dissolution application. Instead, it listed the matter for a further hearing to seek clarifications on 03.08.2026. The creditors are to recover the Rs. 22 lakh paid for liquidation costs from the personal guarantor.
Topics: Corporate Insolvency, Liquidation, NCLT Proceeding