Description

Describe the issue.

• igniteui-angular version: 10.2.1
• browser: Chrome

Steps to reproduce

1. Open the stackblitz, also open the console panel.
   https://stackblitz.com/edit/timepicker-null?file=src%2Fapp%2Ftimepicker-sample-1%2Ftimepicker-sample-1.component.ts
2. Set some time to the time picker.
3. Click the close icon to clear the set time.

Result

Time picker returns 00:00 as value.

Expected result

Time picker returns null the same as the initial value.