# M/s. Joneja Bright Steels Pvt. Ltd. vs. M/s. Nipman Fastners Industries Pvt. Ltd.

> NCLT judgment dated 8 Jan 2026. Citation: TCN-2026-NCLT-00043. An application, IA-6093/2025, was filed for the advancement of the hearing of the liquidation…

- **Court:** NCLT
- **Order date:** 8 Jan 2026
- **Citation:** TCN-2026-NCLT-00043
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/ms-joneja-bright-steels-pvt-ltd-vs-ms-nipman-fastners-industries-pvt-ltd-nq0gi

## Summary

### Background

An application, IA-6093/2025, was filed for the advancement of the hearing of the liquidation application (Liquidation.A-21/2024). Concurrently, the National Company Law Tribunal (NCLT) was to consider the liquidation of M/s. Nipman Fastners Industries Pvt. Ltd. (Corporate Debtor). This consideration was based on a resolution passed by the Committee of Creditors (CoC) in its 16th meeting on April 1, 2024, which approved the initiation of liquidation proceedings under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IBC) with an 84.38% voting share.

## Facts

An application, IA-6093/2025, was moved for the advancement of the hearing of Liquidation.A-21/2024.

The liquidation application (Liquidation.A-21/2024) was scheduled to be heard today, rendering IA-6093/2025 infructuous.

The 16th meeting of the Committee of Creditors (CoC) of M/s. Nipman Fastners Industries Pvt. Ltd. was held on 01.04.2024.

The CoC passed a resolution with 84.38% voting share to approve the filing of an application under Section 33 of the IBC, 2016, seeking liquidation of the Corporate Debtor and to fix the Liquidator's fee.

The CoC resolved to appoint Mr. Dharmendra Kumar (IBBI Reg. No. IBBI/IPA-003/IP-N00112/2017-2018/11264) as Liquidator for the Corporate Debtor, with fees prescribed by IBBI under Regulation 4(3) less a 65% discount.

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## Issues and analysis

### Issue 1: Whether the application for advancement of hearing (IA-6093/2025) has become infructuous and should …

**Ratio:** An application for advancement of hearing becomes infructuous if the matter it seeks to

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**Reasoning:** The NCLT observed that the main liquidation application (Liquidation.A-21/2024), for

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**Interpretation:** The court interprets 'infructuous' to mean an action that has become pointless

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**Application:** Since Liquidation.A-21/2024 was already listed for hearing, the application

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## Parties

- **Judges:** Sh. Ashok Kumar…; Reena Sinh…
- **Appellants:** M/s. Joneja…
- **Respondents:** M/s. Nipman…; M/s. Nipman…
- **Other parties:** Insolvency and…; Liquida…; +9 more

## Timeline

- **2024-04-01 — CoC Meet…**: 16th meeting of the Committee of Creditors (CoC) held, where a resolution for liquidation…
- **2026-01-08 — Order Del…**: Order delivered by the National Company Law Tribunal, ordering liquidation of the…

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