IN

CP (IBC)/18/KOB/2024

(Under Section 42 of IBC, 2016, read with Rule 11 of

NCLT Rules, 2016) In the matter of:

M/s. HLL Infra Tech Services Ltd

vs. Mr. Reuben George Joseph

Liquidator of M/s Saptha Zeal Pvt. Ltd

MEMO OF PARTIES:

M/s. HLL Infra Tech Services Ltd. (HITES)

HLL Bhavan. Poojappura.

P.O. Thiruvananthapuram-695 012.

Email:

…Appellant

-Vs-

Mr. Reuben George Joseph

Liquidator of M/s Saptha Zeal Pvt. Ltd.

IBBI Regn. No.

IBBI/IPA-001/IP-P02134/2020-2021/13326

37/2038, I^st Floor, Muttathil Lane, Kadavanthra,

Ernakulam, Kerala-682020 …Respondent/Liquidator

Date of Institution: 08.08.2025 Order delivered on: 13.11.2025

Coram:

HON’BLE MEMBER (JUDICIAL) : SHRI. VINAY GOEL

HON’BLE MEMBER (TECHNICAL) : SMT. MADHU SINHA

Appearances:

For the Appellant : Mr. Nikhilesh Krishnan, Advocate For the Respondent/Liquidator: Mr. Sankar P Panicker, Advocate Liquidator : Mr. Reuben George Joseph

O R D E R

Per Coram

1. This appeal has been filed under Section 42 of the IBC, 2016, read with Rule 11 of the NCLT, Rules, 2016, by M/s. HLL Infra Tech Services Ltd (HITES), seeking the following reliefs:

a) Allow the present appeal and set aside the order dated

22.07.2025 passed by the Liquidator;

b) Remand the matter back to the Liquidator for fresh consideration of the claim of the Appellant based the documents submitted by the Appellant and after giving reasonable opportunity to the Appellant;

c) Pass ex parte order thereby stay the order dated

22.07.2025 till disposal of the present appeal; and d) Pass such further or other orders as may be deemed just and proper in the facts and circumstances of the case.

2. The Appellant submitted that upon issuance of a Notice Inviting Tender (NIT) on 09.03.2016 for providing operations and maintenance services at the Super Speciality Block of the Government Medical College, Thiruvananthapuram, a contract was awarded to M/s. Saptha Zeal Pvt Ltd., the Corporate Debtor (under Liquidation), through a Letter of Acceptance dated 26.04.2016. However, before the work was completed, disputes arose between the parties, leading to M/S Saptha Zeal Pvt. Ltd.

invoking arbitration. Consequently, a three-member Arbitral Tribunal was constituted.

3. During the arbitration proceedings, the Appellant filed counter-claims against M/s Saptha Zeal Pvt Ltd, amounting to Rs. 3,66,11,233.58, along with interest of Rs.2,34,37,845 as of 31.08.2023 — totalling Rs. 6,00,49,078.58. The Appellant also sought pendent lite interest at 10% per annum until the award is passed, and post-award interest at the same rate until recovery, along with costs. A copy of the counter-claim is annexed as Annexure A2 with the application.

4. Meanwhile, a Company Petition [CP(IBC)/18/KOB/2024] filed under Section 10 of the Insolvency and Bankruptcy Code (IBC),2016, against M/s. Saptha Zeal Pvt Ltd was admitted by the Adjudicating Authority vide its order dated 30.05.2024. Consequently, the Corporate Insolvency Resolution Process (CIRP) was initiated, and Mr. CA Rajmohan R was appointed as the Interim Resolution Professional (IRP), who was later confirmed as the Resolution Professional (RP). Pursuant to the initiation of CIRP, a moratorium came into effect, and as a result, the arbitration proceedings were kept in abeyance.

5. Pursuant to the public announcement made by the IRP inviting claims against the Corporate Debtor, the Appellant submitted its claim on 13.06.2024 in Form B as an Operational Creditor, along with all supporting documents. The Resolution Professional admitted the claim amounting to Rs.6,48,28,703.58, as reflected in the List of Creditors and the Information Memorandum circulated during the CIRP. Notably, no objections were raised regarding this admission. The only Financial Creditor was HDB Financial Services Ltd., with an admitted claim of Rs.1,58,82,961/-, while another Operational Creditor, the State GST Department, Kerala, had an admitted claim of Rs.33,47,27,851/-.

6. Since the Resolution Plan submitted by the Resolution Applicant did not fulfil the mandatory requi