# In the matter of MARVELOUS METALS PVT LTD

> Read the full IBC case summary for In the matter of MARVELOUS METALS PVT LTD. NCLT judgment dated 2025-08-04. Citation: TCN-2025-NCLT-01191.

- **Court:** NCLT
- **Order date:** 4 Aug 2025
- **Citation:** TCN-2025-NCLT-01191
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/marvelous-metals-pvt-ltd-ac21fc82

## Summary

### Background

The Corporate Debtor's CIRP was initiated, but no resolution plan was received despite efforts to attract prospective resolution applicants. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor, leading the Resolution Professional to file an application for liquidation.

## Facts

The Corporate Insolvency Resolution Process (CIRP) for Marvelous Metals Pvt. Ltd. was initiated by the Tribunal on December 13, 2024, following the admission of a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. The applicant, Atul Rajwadkar, was appointed as the Interim Resolution Professional (IRP) for the Corporate Debtor.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be…

**Ratio:** An order for liquidation under Section 33 of the IBC is to be passed when no resolution…

**Reasoning:** The CoC unanimously resolved to liquidate the Corporate Debtor after no resolution plan…

**Interpretation:** The court interpreted Section 33(1)(a) of the IBC, which mandates liquidation…

**Application:** Given that no resolution plan was submitted for Marvelous Metals Pvt. Ltd., the…

## Parties

- **Judges:** SH. PRABHAT…; SH. SUSHIL…
- **Advocates:** For the Applicant:…

## Timeline

- **December 13, 2024 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was initiated by…
- **April 14, 2025 — Form G I…**: Form G was issued to invite expressions of interest from prospective Resolution…

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