# In the matter of Anil Kumar Tulsiani Vs. Rakesh Kumar Gupta & Anr. CA(AT)(Insolvency) 35-2019

> NCLAT judgment dated 2019-01-22. Citation: TCN-2019-NCLAT-00858. This is a Company Appeal (AT) (Insolvency) No. 35 of 2019. Anil Kumar Tulsiani, Director of…

- **Court:** NCLAT
- **Order date:** 22 Jan 2019
- **Citation:** TCN-2019-NCLAT-00858
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/anil-kumar-tulsiani-vs-rakesh-kumar-gupta-anr-ca-18a9e1de

## Summary

### Background

This is a Company Appeal (AT) (Insolvency) No. 35 of 2019. Anil Kumar Tulsiani, Director of ‘Sunshine Infraheights Private Limited’ (Corporate Debtor), filed an appeal against the order dated 17th December, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench. The Adjudicating Authority admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by the Respondents, Rakesh Kumar Gupta and Ms. Swati Goel.

## Facts

Anil Kumar Tulsiani, Director of Sunshine Infraheights Private Limited (Corporate Debtor), appealed against the Adjudicating Authority's order admitting an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Rakesh Kumar Gupta and Ms. Swati Goel (Respondents). The Corporate Debtor argued no default occurred, claiming readiness to execute sale deeds for three plots upon full payment, with stamp papers already procured. The Corporate Debtor contended that the allottees (Respondents) had not paid the full amount, and the Adjudicating Authority failed to consider the Corporate Debtor's plea. The NCLAT noted that the parties had settled the matter, with alternative plots allotted to the Respondents. The Interim Resolution Professional appeared,

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in admitting the application under Section 7 of the …

**Ratio:** The ratio is that if the Corporate Debtor is ready to execute the sale deed subject to

…

**Reasoning:** The court reasoned that the Corporate Debtor had procured the stamp papers before the

…

**Interpretation:** This means that the Adjudicating Authority should have considered the Corporate

…

**Application:** In this case, the Corporate Debtor had procured stamp papers and was ready to

…

## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Anil Kumar…
- **Respondents:** Sunshine Infraheig…; Rakesh Kuma…

## Timeline

- **2018-12-17 — Order by Adjudicating…**: Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, passed an order…
- **2019-01-22 — Appeal F…**: Anil Kumar Tulsiani, Director of ‘Sunshine Infraheights Private Limited’, filed an appeal…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/anil-kumar-tulsiani-vs-rakesh-kumar-gupta-anr-ca-18a9e1de