It was executed properly, both the initialization and finalization
sections. I even removed that part (i.e. no initialization /
finalization) and the #pragma link "IB_Components" still gave the same
problem.

I don't think it's a simple one.

> If you can place a breakpoint in IB_Session.pas at:
> procedure ReleaseSessionHookRef;
>
> it would be interesting to see whether the line:
> if InterlockedDecrement( FGDS_RefCount ) = 0 then
>
> ever returns true (refcount = 0) when the DLL is unloaded. It
> may be that additional calls to ReleaseSessionHookRef will be
> needed. It seems (visually to me) that there is a mismatch in
> the number of calls made in finalization sections. This does
> not normally matter because in most VCL based applications the
> finalization is only called on program exit.
>
> --
> Geoff Worboys
> Telesis Computing