# In the matter of Fusible Metals Private Limited

> NCLT judgment dated 2022-08-25. Citation: TCN-2022-NCLT-01268. The case involves M/s. Nivedan Fin-Invest Lease Ltd. as the petitioner and M/s. Fusible Metals…

- **Court:** NCLT
- **Order date:** 25 Aug 2022
- **Citation:** TCN-2022-NCLT-01268
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/fusible-metals-private-limited-0127542c

## Summary

### Background

The case involves M/s. Nivedan Fin-Invest Lease Ltd. as the petitioner and M/s. Fusible Metals Pvt. Ltd. as the respondent. The matter pertains to an application for dissolution of the Corporate Debtor, M/s. Fusible Metals Pvt. Ltd., initiated under Section 33 of the IB Code 2016. The Resolution Professional's submissions were heard, and the dissolution process was deemed complete.

## Facts

M/s. Nivedan Fin-Invest Lease Ltd. filed a petition against M/s. Fusible Metals Pvt. Ltd. under Section 7 of the IB Code, 2016. An application was made under Regulation 14 of IBBI (LP) Regulations 2016 read with Rule 11 of NCLT Rules 2016 for early dissolution of M/s. Fusible Metals Pvt. Ltd., initiated under Section 33 of IB Code 2016. The Resolution Professional completed the dissolution process. The Liquidator prayed for an order to dissolve the Corporate Debtor and direct the Registrar of Companies for Delhi and Haryana to delete the Corporate Debtor's name from its register. IA No. 4907 of 2020, filed by the Erstwhile RP under Section 43 & 66 of the IB Code 2016, was also disposed of. The final report as per Regulations 45 of IBBI (LP) Regulations 2016 was

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## Issues and analysis

### Issue 1: Whether the dissolution process of …

**Ratio:** The dissolution process is considered complete when all necessary steps have been taken

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**Reasoning:** The court heard the submissions of the counsel for the Resolution Professional and

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**Interpretation:** The interpretation of the IB Code and related regulations allows for the

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**Application:** In this case, the court found that the Resolution Professional had completed

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## Parties

- **Judges:** P.S.N. P…; RAHUL BHA…
- **Appellants:** M/s. Nivedan…
- **Respondents:** M/s. Fusible…

## Timeline

- **2022-07-18 — Order del…**: Order delivered on the…
- **2022-08-25 — Order del…**: Order delivered on the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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