# In the matter of Precision Engineers & Fabricators Private Limited

> Read the full IBC case summary for In the matter of Precision Engineers & Fabricators Private Limited. NCLT judgment dated 2025-07-24. Citation:…

- **Court:** NCLT
- **Order date:** 24 Jul 2025
- **Citation:** TCN-2025-NCLT-01203
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/precision-engineers-fabricators-private-limited-ad232561

## Summary

### Background

This application was filed by the liquidator seeking dissolution of the Corporate Debtor, Precision Engineers & Fabricators Private Limited, after the completion of the liquidation process and the realization and distribution of assets.

## Facts

Berger Paints India Limited, an operational creditor, filed an application under Section 9 of the I&B Code, 2016, on April 4, 2017, to initiate the Corporate Insolvency Resolution Process (CIRP) against Precision Engineers & Fabricators Private Limited, the corporate debtor. Mr. Rasik Singhania was appointed as the Interim Resolution Professional (IRP) and later as the Liquidator on October 22, 2018. The CIRP commenced on October 22, 2018, and public announcements were made on November 5, 2018, in newspapers, indicating the corporate debtor had entered liquidation.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Precision Engineers & Fabricators Private Limited, should be…

**Ratio:** The Adjudicating Authority shall order the dissolution of the corporate debtor from the…

**Reasoning:** The liquidator filed an application for dissolution after the assets of the corporate…

**Interpretation:** The court interpreted **Section 54(1)** and **54(2)** of the IBC, 2016, and…

**Application:** Given that the liquidator had completed the liquidation process, sold the…

## Parties

- **Judges:** BIDISHA BA…; Siddharth…
- **Advocates:** For the Liquidator…; CA. Liq-in…; +1 more

## Timeline

- **April 4, 2017 — CIRP Initiation…**: Berger Paints India Limited filed an application under Section 9 of the I&B Code, 2016,…
- **October 22, 2018 — IRP Appointment and…**: Mr. Rasik Singhania was appointed as the IRP, and the Corporate Insolvency Resolution…

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